Ms. Vandana Garg, the Resolution Professional of Raguleela Builders Private Limited (corporate debtor), filed an appeal challenging an order of the Adjudicating Authority (NCLT). The NCLT order, dated 18.12.2023, allowed the claim of Mysore Petro Chemicals Limited (respondent) for ₹5,20,22,000/-, which was based on an order passed by the Real Estate Regulatory Appellate Authority (RERAA). The NCLT had held that the respondent's claim was not belated and that the corporate debtor was bound by the RERAA judgment.
On 02.07.2015, Mysore Petro Chemicals Limited (respondent) entered into an agreement with Raguleela Builders Private Limited (corporate debtor) for the purchase of a commercial unit, with delivery scheduled for 30.09.2015.
The respondent fully paid the consideration for the unit, but the corporate debtor failed to deliver it as agreed.
The respondent filed a complaint with the Real Estate Regulatory Authority (RERA), which dismissed the complaint on 08.10.2020, citing delay in obtaining the Occupancy Certificate.
On 17.12.2020, the respondent preferred an appeal to the Real Estate Regulatory Appellate Authority (RERAA) challenging the RERA order, and notice was served on the corporate debtor on 19.12.2020.
…Sign in to view the parties.
Mysore Petro Chemicals Limited (respondent)…
The commercial unit was to be handed over to…
Ms. Vandana Garg, the Resolution Professional of Raguleela Builders Private Limited (corporate debtor), filed an appeal challenging an order of the Adjudicating Authority (NCLT). The NCLT order, dated 18.12.2023, allowed the claim of Mysore Petro Chemicals Limited (respondent) for ₹5,20,22,000/-, which was based on an order passed by the Real Estate Regulatory Appellate Authority (RERAA). The NCLT had held that the respondent's claim was not belated and that the corporate debtor was bound by the RERAA judgment.
On 02.07.2015, Mysore Petro Chemicals Limited (respondent) entered into an agreement with Raguleela Builders Private Limited (corporate debtor) for the purchase of a commercial unit, with delivery scheduled for 30.09.2015.
The respondent fully paid the consideration for the unit, but the corporate debtor failed to deliver it as agreed.
The respondent filed a complaint with the Real Estate Regulatory Authority (RERA), which dismissed the complaint on 08.10.2020, citing delay in obtaining the Occupancy Certificate.
On 17.12.2020, the respondent preferred an appeal to the Real Estate Regulatory Appellate Authority (RERAA) challenging the RERA order, and notice was served on the corporate debtor on 19.12.2020.
…Mysore Petro Chemicals Limited (respondent)…
The commercial unit was to be handed over to…