NCLAT Rules on Fraudulent Insolvency in Logix Infrastructure Case
NOIDA: The NCLAT has ruled that bankruptcy proceedings against Logix Infrastructure will not proceed, citing fraudulent misuse of insolvency law. The tribunal determined that the litigant, Experts Realty Professionals (ERP), and the Noida developer were “related parties,” and deemed the tribunal action as merely a facade to protect Logix from financial obligations. The NCLAT upheld the National Company Law Tribunal’s (NCLT) February 2025 order that annulled corporate insolvency actions against Logix Infrastructure, noted for the problematic Blossom County housing project located in Sector 137. In dismissing ERP’s petition against the NCLT ruling, Justice N Seshasayee (judicial member) and Arun Baroka…