Noida Sports City Scam Case: Allahabad HC issued Guidelines on Rights of Other Members of Consortium When one Member Goes Into Insolvency [Read Order]
The Court ordered the Central Bureau of Investigation to file a complaint against all the deceitful NOIDA officials, as well as the builders and allottees involved in the approval, development, and allocation of the Sports City Project, as well as any other individuals who might be connected to the fraud
In the Noida Sports City scam, the Allahabad High Court issued guidelines regarding the rights of other consortium members in the event that one of them becomes insolvent.The court laid down the guidelines as the same is not provided in the Insolvency and Bankruptcy Code, 2016. In 2011, NOIDA introduced a plan to create Sports…
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