NCLT initiates insolvency proceedings against ATS Group co Anand Divine Developers

The Delhi bench of the National Company Law Tribunal (NCLT) has initiated bankruptcy proceedings against Anand Divine Developers Pvt Ltd, a group company of realty developer ATS over dues of INR 25 crore. ICICI prudential venture has moved the tribunal after the developer defaulted on payment. The petitioner has proposed the name of Insolvency Resolution Professional (IRP) Harish Taneja.