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Showing contexts for: Sample flat in Committee Of Creditors Of Earthcon ... vs Nisus Finance & Investment Managers Llp on 21 July, 2025Matching Fragments
further submitted that Anand Buildtech Pvt. Ltd., a consortium member, has delivered over 10,00,000 sq. ft., as evidenced by its profile Comp. App. (AT) (Ins.) No. 963-965, 969 & 970, 1175, 1176 & 1174 of 2024
25. The "parties supporting Resolution Plan" submitted that the demolition order dated 21.12.2022 by the Lucknow Development Authority (LDA) was limited to unauthorized constructions (e.g., office and sample flat in setback area, walls affecting parking, etc.) and did not affect the entire 4,17,922 square feet of the Urban Woods project of SRA. The "parties supporting Resolution Plan"
contended that the Adjudicating Authority erred in relying on the demolition order to negate the SRA's work experience, as the order pertained only to specific unauthorized constructions, which are common in real estate projects for commercial expediency (e.g., sample flats, sales offices).
26. The "parties supporting Resolution Plan" submitted that the Resolution Professional personally visited the Urban Woods project in Lucknow and confirmed that it is fully constructed, delivered, operational, well-maintained, and occupied by residents. The "parties supporting Resolution Plan" contended that the Adjudicating Authority's failure to consider this verification undermines its finding that the SRA lacked requisite work experience. The "parties supporting Resolution Plan" further submitted that the CoC, aware of the project's "deemed completion" status, accepted the SRA's credentials, supported by affidavits, photographs, and electricity bills paid by residents.