Homebuyers Challenge Lavasa Corp’s Insolvency at NCLT
MUMBAI: Homebuyers in Lavasa, a hill town developed by Lavasa Corp, have submitted a new appeal requesting intervention from the appellate tribunal. They have cited significant issues within the resolution plan. In their appeal, the homebuyers have raised concerns about discriminatory treatment, arbitrary financial burdens, a lack of transparency in the insolvency process, and possible changes to key elements of the approved plan by the Welspun Group-Ashdan Properties consortium. In a detailed 99-page appeal, they requested a stay on the NCLT’s order regarding their case and urged the appellate tribunal to instruct the NCLT to review pending applications from homebuyers…