The National Company Law Appellate Tribunal (NCLAT) has issued an order preventing Raheja Developers from creating third-party rights by selling units or land during its insolvency proceedings. This decision follows concerns raised by homebuyers regarding the potential sale of company assets without the necessary oversight from the Interim Resolution Professional (IRP). The NCLAT emphasized the importance of informing buyers about the ongoing insolvency and ensuring that property deliveries are not compromised. The tribunal clarified that the IRP is authorized to defend the company against various notices from regulatory authorities, ensuring compliance with the law. This ruling aims to protect the interests of homebuyers and maintain transparency in the insolvency process.