NCLT approves ₹143 crore resolution plan for Sunblink Real Estate
In short
NCLT approved Sunblink Real Estate’s ₹143 crore resolution plan despite pending SAFEMA proceedings.
The tribunal said insolvency rules cannot create stronger property rights than the company already had. That means the plan can move ahead even as the forfeiture case continues.
What the reporting says
NCLT approved Sunblink Real Estate’s ₹143 crore resolution plan despite pending SAFEMA forfeiture proceedings. The tribunal said insolvency protection cannot give a better property right than the debtor had. The order keeps the insolvency process moving while the property dispute remains before the authorities.
Why it matters
NCLT approved Sunblink Real Estate’s ₹143 crore resolution plan while SAFEMA proceedings over forfeiture were still pending. The decision is relevant to the insolvency process and to parties linked to the disputed property, because the plan proceeds despite the parallel forfeiture action.