NCLT initiates insolvency proceedings against Jupiter Landscapes over Rs 573 cr debt

The National Company Law Tribunal has ordered the corporate insolvency resolution process for Jupiter Landscapes due to defaulting on non-convertible debentures worth Rs 573.98 crore. The default occurred in March 2023. Edelweiss Asset Reconstruction Company filed the petition. A moratorium is in place to prevent legal actions or asset transfers during the insolvency process.