The appeal was filed against the order dated July 6, 2021, passed by the Adjudicating Authority (National Company Law Tribunal, Division Bench, Allahabad) in C.P. (IB) No. 227/ALD/2019, which rejected the application filed by the Appellant. The Appellant claimed to be a financial creditor based on agreements related to the purchase of cottages in a project developed by the Respondent. The Adjudicating Authority rejected the application, leading to the present appeal.
Neha Khanna (Appellant) filed an appeal against the order of the Adjudicating Authority, which rejected her application under Section 7 of the Insolvency and Bankruptcy Code (IBC). The Appellant had entered into agreements to purchase two cottages in a Holiday Resort developed by Tybros Infratech Pvt. Ltd. (Respondent/Corporate Debtor). Two separate Agreements to Sell were executed on April 15, 2016, for a total consideration of Rs. 76,33,000/- per cottage. The Appellant paid Rs. 22,55,000/- (inclusive of service tax) at the time of signing the agreement and a total of Rs. 45,00,000/- towards the purchase. Due to non-delivery of the cottages, the Appellant sought a refund, and an additional amount of Rs. 5,00,000/- was paid by the Appellant, which was subsumed into the
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Two separate Agreements to Sell were executed…
A loan agreement was entered into between the…
The appeal was filed against the order dated July 6, 2021, passed by the Adjudicating Authority (National Company Law Tribunal, Division Bench, Allahabad) in C.P. (IB) No. 227/ALD/2019, which rejected the application filed by the Appellant. The Appellant claimed to be a financial creditor based on agreements related to the purchase of cottages in a project developed by the Respondent. The Adjudicating Authority rejected the application, leading to the present appeal.
Neha Khanna (Appellant) filed an appeal against the order of the Adjudicating Authority, which rejected her application under Section 7 of the Insolvency and Bankruptcy Code (IBC). The Appellant had entered into agreements to purchase two cottages in a Holiday Resort developed by Tybros Infratech Pvt. Ltd. (Respondent/Corporate Debtor). Two separate Agreements to Sell were executed on April 15, 2016, for a total consideration of Rs. 76,33,000/- per cottage. The Appellant paid Rs. 22,55,000/- (inclusive of service tax) at the time of signing the agreement and a total of Rs. 45,00,000/- towards the purchase. Due to non-delivery of the cottages, the Appellant sought a refund, and an additional amount of Rs. 5,00,000/- was paid by the Appellant, which was subsumed into the
…Two separate Agreements to Sell were executed…
A loan agreement was entered into between the…