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Legal experts say that are of the view that the order will pave the way for other projects that are stuck because of disputes with governing bodies
Earlier, the National Company Law Tribunal (NCLT) had denied its approval following opposition filed by some of the allottees and was challenged before the appellate tribunal NCLAT, which had remanded the matter back with certain directions. The resolution plan offers "100 per cent of the principal of farmer's compensation (Rs 71.66 crore), which is included in Rs 173.46 crores agreed to pay to Yamuna Expressway Industrial Development Authority (YEIDA)".
The NCLT has approved the resolution plan by Ace Infracity Developers for the debt-ridden 3C Homes.
The injured are undergoing treatment at a private hospital in Cuttack, of whom two are critical and admitted in the ICU.
The injured are undergoing treatment at a private hospital in Cuttack, of whom two are critical and admitted in the ICU.