ALPHA CORP DEVELOPMENT PRIVATE LIMITED versus GREATER NOIDA INDUSTRIAL DEVELOPMENT AUTHORITY (GNIDA) AND OTHERS

Case summary from SCR

Issue for Consideration Issues arose inter alia as to whether in the Corporate Insolvency Resolution Process (CIRP) proceedings of the Corporate Debtor- Earth Infrastructures Limited, the assets of the land holding companies, i.e., subsidiary of the treated to be assets of the Corporate Debtor; whether assets of the subsidiary companies can be dealt with in CIRP of holding Company; whether the present is a fit case to lift the corporate veil. Headnotes† Insolvency and Bankruptcy Code, 2016 – CIRP of holding Company –