NCLAT hears appeal by Loon Land Development Ltd against RP of Revital Reality Pvt Ltd in insolvency matter.
RP alleges Rs 42 crore consideration for assignment deed remains unpaid by Loon Land to corporate debtor.
Tribunal directs appellant to file affidavit on landowner protection and treatment of Rs 42 crore payment.
Next hearing scheduled for May 19, 2026, with written submissions required from both parties.