The Supreme Court has approved a redevelopment plan for Gurgaon's Chintels Paradiso that provides around 370 homeowners with a defined route to return to their homes. The residents had paid up to Rs 1.15 crore for homes but faced a 4-year limbo.

Following a fatal collapse in 2022, the Supreme Court has ordered the complete redevelopment of Chintels Paradiso in Gurgaon. Residents must vacate by January 2027, with the new complex to be completed within two years of that deadline.

The National Company Law Appellate Tribunal (NCLAT) declined Raheja Developers' petition to close the corporate insolvency resolution process (CIRP) against Raheja Shilas in Sector 109, Gurugram, Haryana, observing that issues with flat buyers remain unresolved.

Navin Raheja, CMD of Raheja Developers, argued that CIRP should close because flat buyers had received possession and occupancy certificates, and all necessary payments were made. However, NCLAT's bench (Chairperson Justice Ashok Bhushan and Member Barun Mitra) found that over 40 flat buyers had filed objections, with many issues still pending with the corporate debtor.

NCLAT stated that an application under Section 12A of the Insolvency and Bankruptcy Code to withdraw CIRP can only be filed after issues between flat buyers and the firm are "resolved and any settlement is entered." Flat buyers retain the right to file such applications.

The tribunal confirmed its November 2024 interim order confining CIRP to the Raheja Shilas (Low Rise) project only, allowing other creditors and financial institutions to pursue separate proceedings regarding other projects of Raheja Developers independently. The Resolution Professional was directed to continue with CIRP, including updating creditor claims in accordance with law.

The NCLT had initiated CIRP against Raheja Developers on November 19, 2024.

National Company Law Appellate Tribunal (NCLAT) declined Raheja Developers' petition to close the Corporate Insolvency Resolution Process (CIRP) against Raheja Shilas project in Sector 109, Gurugram, Haryana. NCLAT noted that issues between flat buyers and the company remain unresolved. Over 40 flat buyers have claimed default by Raheja Developers. NCLAT stated withdrawal under Section 12A of Insolvency and Bankruptcy Code can only occur after issues are resolved and settlement entered. Raheja Developers' counsel argued CIRP should close as flat buyers received possession and occupancy certificates after making all payments. However, NCLAT found many issues with the corporate debtor remain pending. NCLAT's final order on March 20 modified an NCLT order from November 19, 2024, confining CIRP solely to Raheja Shilas project. Financial creditors regarding other projects may pursue independent proceedings unaffected by this CIRP. Resolution Professional directed to proceed with CIRP including updating creditor claims.

A cement slab weighing approximately 50 kilograms fell from the 23rd floor of ATS Kocoon society in Sector 109, Gurgaon on Thursday evening around 6:45 PM. The slab fell from a height of 250 feet and embedded itself six to eight inches into the ground. A flat owner and their helper were standing nearby but escaped injury. The seven-year-old society has previously experienced incidents of plaster and cement pieces falling, with residents reporting monthly complaints from various towers. Residents allege this is the second dangerous project after Chintel Paradiso, where multi-floor slab failures caused two deaths and led to building demolition. Residents claim DTP (developer) issued Occupation Certificates without proper inspection and quality testing, allowing substandard projects to be sold. Residents state they invested lifetime savings for a safe home but the building now poses a threat to their lives. ATS Kocoon was jointly developed by Chintels and ATS.