NCLT clears ATS Nobility Estates insolvency exit bringing relief to 600 Le Grandiose homebuyers

Creditors approved a settlement that reshapes payouts

The National Company Law Tribunal has allowed ATS Group’s Nobility Estates to withdraw from insolvency proceedings. The ruling offers relief to more than 600 homebuyers stuck with the Le Grandiose project. The committee of creditors backed a settlement with the former management, including major payments and repayment of JM Financial’s debt via allocation of project units.