The appeals challenge the rejection of claims by the Adjudicating Authority (NCLT) to treat certain debts as financial debts. M/s Unibera Developers Pvt. Ltd. underwent CIRP initiated by an operational creditor. The appellants, M/s Propertree Real Estate Solutions Pvt. Ltd. and Mrs. Vandana Gupta & Mr. Arun Gupta, filed claims to be treated as financial creditors, which were rejected.
M/s Propertree Real Estate Solutions Pvt. Ltd. and Mrs. Vandana Gupta & Mr. Arun Gupta filed claims in the CIRP of M/s Unibera Developers Pvt. Ltd. seeking to be treated as financial creditors.
M/s Propertree Real Estate Solutions Pvt. Ltd. acted as an authorized broker for M/s Unibera Developers Pvt. Ltd.
The appellants booked flats in the project of the Corporate Debtor and made payments towards booking amounts.
The Corporate Debtor issued credit notes to the appellants for brokerage fees, which were later adjusted against the consideration for the flats.
The Corporate Debtor cancelled the allotment of the flats to the appellants.
The appellants initially filed a petition under Section 9 of the IBC as operational creditors.
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Order passed by the 'Adjudicating Authority'…
CIRP of the CD…
The appeals challenge the rejection of claims by the Adjudicating Authority (NCLT) to treat certain debts as financial debts. M/s Unibera Developers Pvt. Ltd. underwent CIRP initiated by an operational creditor. The appellants, M/s Propertree Real Estate Solutions Pvt. Ltd. and Mrs. Vandana Gupta & Mr. Arun Gupta, filed claims to be treated as financial creditors, which were rejected.
M/s Propertree Real Estate Solutions Pvt. Ltd. and Mrs. Vandana Gupta & Mr. Arun Gupta filed claims in the CIRP of M/s Unibera Developers Pvt. Ltd. seeking to be treated as financial creditors.
M/s Propertree Real Estate Solutions Pvt. Ltd. acted as an authorized broker for M/s Unibera Developers Pvt. Ltd.
The appellants booked flats in the project of the Corporate Debtor and made payments towards booking amounts.
The Corporate Debtor issued credit notes to the appellants for brokerage fees, which were later adjusted against the consideration for the flats.
The Corporate Debtor cancelled the allotment of the flats to the appellants.
The appellants initially filed a petition under Section 9 of the IBC as operational creditors.
…Order passed by the 'Adjudicating Authority'…
CIRP of the CD…