India, Feb. 10 -- The national company law tribunal (NCLT) has terminated the ongoing corporate insolvency resolution process (CIRP) against the realty firm - Logix Infrastructure private limited - that was facing the proceedings since 2023.

In its 20-page order, delivered on Thursday (February 6), the NCLT has directed the resolution professional to return the management control of the firm to ex-management and also ended the moratorium period given to the realty firm.

The NCLT while allowing IA 6541 (the plea)with costs, terminated the admission order that was delivered on July 14, 2023 that paved the way for initiation of the CIRP against Logix Infra.

The February 6 order also termed all decisions taken by resolution professional Pa...