This is a combined judgment for four Company Appeals (Comp. App (AT) (CH) (INS) Nos. 192, 212, 214, and 215 of 2023) filed by different associations of home buyers against orders passed by the National Company Law Tribunal (NCLT), Kochi Bench. The appeals challenge the rejection of applications for extension of time to complete the Corporate Insolvency Resolution Process (CIRP) for a corporate debtor, Samson & Sons Builders & Developers Pvt. Ltd. The home buyers had entered into sale and construction agreements with the corporate debtor for apartments in various projects. The corporate debtor defaulted on loan liabilities, leading to the initiation of CIRP. The home buyers, as a class of creditors, submitted resolution plans, but the Resolution Professional
…The case involves multiple appeals concerning the Corporate Insolvency Resolution Process (CIRP) of Samson & Sons Builders & Developers Pvt. Ltd. Several associations of home buyers (Sharon Hills Residents Association, Angelwoods Apartments Allottees Association, Orchid Valley Apartment Buyers Association, and Sanctuary Apartment Owner's Association) are the Appellants. The Respondent is K. Parameswaran Nair, the Resolution Professional. The Corporate Debtor invited prospective applicants (home buyers) for the purchase of apartments. Home buyers entered into Sale and Construction Agreements with the Corporate Debtor. The Corporate Debtor failed to execute Registered Sale Deeds. The Corporate Debtor availed loan facilities from Financial Creditors by pledging
…Sign in to view the parties.
The Adjudicating Authority passed an Order…
A Public Notice was…
This is a combined judgment for four Company Appeals (Comp. App (AT) (CH) (INS) Nos. 192, 212, 214, and 215 of 2023) filed by different associations of home buyers against orders passed by the National Company Law Tribunal (NCLT), Kochi Bench. The appeals challenge the rejection of applications for extension of time to complete the Corporate Insolvency Resolution Process (CIRP) for a corporate debtor, Samson & Sons Builders & Developers Pvt. Ltd. The home buyers had entered into sale and construction agreements with the corporate debtor for apartments in various projects. The corporate debtor defaulted on loan liabilities, leading to the initiation of CIRP. The home buyers, as a class of creditors, submitted resolution plans, but the Resolution Professional
…The case involves multiple appeals concerning the Corporate Insolvency Resolution Process (CIRP) of Samson & Sons Builders & Developers Pvt. Ltd. Several associations of home buyers (Sharon Hills Residents Association, Angelwoods Apartments Allottees Association, Orchid Valley Apartment Buyers Association, and Sanctuary Apartment Owner's Association) are the Appellants. The Respondent is K. Parameswaran Nair, the Resolution Professional. The Corporate Debtor invited prospective applicants (home buyers) for the purchase of apartments. Home buyers entered into Sale and Construction Agreements with the Corporate Debtor. The Corporate Debtor failed to execute Registered Sale Deeds. The Corporate Debtor availed loan facilities from Financial Creditors by pledging
…The Adjudicating Authority passed an Order…
A Public Notice was…