The Appellants, landowners Brajesh Kumar Tripathi and Abhishek Tripathi, entered into a Development-cum-Collaboration Agreement with Pushp Ratna Realty Private Limited (Corporate Debtor) in 2010. They alleged that their land was unilaterally merged into a larger project, "Lush by Pushpratna," without their consent, and that the Corporate Debtor failed to fulfill its obligations, leading to the termination of the agreement. They also highlighted the revocation of building permissions and expiry of RERA registration. The Appellants sought to exclude their land from the Corporate Debtor's insolvency estate, arguing it was third-party property and not subject to the Resolution Plan approved by the Adjudicating Authority.

The Appellants, landowners Brajesh Kumar Tripathi and Abhishek Tripathi, entered into a Development-cum-Collaboration Agreement with Pushp Ratna Realty Private Limited (Corporate Debtor) in 2010. They alleged that their land was unilaterally merged into a larger project, "Lush by Pushpratna," without their consent, and that the Corporate Debtor failed to fulfill its obligations, leading to the termination of the agreement. They also highlighted the revocation of building permissions and expiry of RERA registration. The Appellants sought to exclude their land from the Corporate Debtor's insolvency estate, arguing it was third-party property and not subject to the Resolution Plan approved by the Adjudicating Authority.