Guneet Pal Singh Majitha (Appellant) claimed to be a Financial Creditor of IAP Company Pvt. Ltd. (Corporate Debtor). The Resolution Professional refused to recognize the Appellant as a Financial Creditor. The Adjudicating Authority (National Company Law Tribunal), New Delhi Bench- III, affirmed this refusal via an order dated October 23, 2018. An 'Agreement to Sell' dated March 1, 2017, exists between the Appellant and the Corporate Debtor, where the Appellant is the 'Purchaser' and the Corporate Debtor owns an office space. The Appellant paid Rs. 1,25,00,000/- as advance money out of a total consideration of Rs. 3,75,00,000/-. Clause 11 of the agreement outlines conditions for the seller's inability to transfer property possession and the purchaser's rights, including

Guneet Pal Singh Majitha (Appellant) claimed to be a Financial Creditor of IAP Company Pvt. Ltd. (Corporate Debtor). The Resolution Professional refused to recognize the Appellant as a Financial Creditor. The Adjudicating Authority (National Company Law Tribunal), New Delhi Bench- III, affirmed this refusal via an order dated October 23, 2018. An 'Agreement to Sell' dated March 1, 2017, exists between the Appellant and the Corporate Debtor, where the Appellant is the 'Purchaser' and the Corporate Debtor owns an office space. The Appellant paid Rs. 1,25,00,000/- as advance money out of a total consideration of Rs. 3,75,00,000/-. Clause 11 of the agreement outlines conditions for the seller's inability to transfer property possession and the purchaser's rights, including