Authority: Supreme Court of India (Partial Court Working Days Bench)
Order Date: 16-06-2026
Case Overview
- Parties: Lotus 300 Apartment Owner Owners Association (Appellant) vs. IndusInd Bank Ltd & Ors (Respondent).
- Proceedings: Civil Appeal No(s). 814/2026; IA No. 166314/2026 listed for orders/directions.
- Background: The Interim Resolution Professional (IRP) previously handling the matter took leave until at least the end of July 2026, creating difficulty in complying with time‑bound directions issued by the Court in its order dated 04‑12‑2025 (Contempt Petition Nos. 660‑661/2025) and the order dated 18‑05‑2026 in C.A. No.814/2026 concerning registration of the apartments by NOIDA in consultation with home buyers.
- Pending Issues: Verification of claims of 71 home buyers remains incomplete.
Final Outcome
- The Court appoints CA Ritu Rastogi (IBBI Registration No. IBBI/IPA-001/IP-P00204/2017-2018/10393) as the new Interim Resolution Professional to complete the remaining exercise of executing the conveyance deed on behalf of M/s. Hacienda Project Private Limited as per the Court's orders.
- Ms. Rastogi shall be entitled to the same remuneration that was paid to the earlier Insolvency Resolution Professionals.
- IA No. 166314/2026 is hereby disposed of.
Topics: Insolvency, Real Estate Registration