The case involves an application filed by Shankar Sawant and Sandhya Sawant, seeking directions to the Resolution Professional of Monarch Brookefields LLP (Under Liquidation) to accept their claims. The applicants had purchased a flat in a project developed by Monarch Brookefields LLP, making payments totaling Rs. 35,12,000/-. The Corporate Debtor delayed handing over possession, and the applicants later learned of the initiation of the Corporate Insolvency Resolution Process (CIRP). They filed a claim with the Resolution Professional, which was rejected. The applicants then filed a Company Appeal before the NCLT.
Shankar Sawant and Sandhya Sawant decided to purchase a flat in a new project developed by Monarch Brookefields LLP. They paid a token amount of Rs. 1,00,000/- and received an Allotment Letter for Flat No. 402, "Florida" Building. They made a series of payments totaling Rs. 35,12,000/- between 2011 and 2015. An Agreement of Sale was executed and registered on September 14, 2015. The Corporate Debtor delayed handing over possession. The applicants learned about the initiation of CIRP on September 27, 2019, and filed a claim for Rs. 55,30,269/- with the Resolution Professional on February 2, 2022. The Resolution Professional rejected the claim via email on February 7, 2022, citing the approved Resolution Plan. The applicants filed a Company Appeal on July 28, 2022.
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Shankar Sawant…
Shankar Sawant…
The case involves an application filed by Shankar Sawant and Sandhya Sawant, seeking directions to the Resolution Professional of Monarch Brookefields LLP (Under Liquidation) to accept their claims. The applicants had purchased a flat in a project developed by Monarch Brookefields LLP, making payments totaling Rs. 35,12,000/-. The Corporate Debtor delayed handing over possession, and the applicants later learned of the initiation of the Corporate Insolvency Resolution Process (CIRP). They filed a claim with the Resolution Professional, which was rejected. The applicants then filed a Company Appeal before the NCLT.
Shankar Sawant and Sandhya Sawant decided to purchase a flat in a new project developed by Monarch Brookefields LLP. They paid a token amount of Rs. 1,00,000/- and received an Allotment Letter for Flat No. 402, "Florida" Building. They made a series of payments totaling Rs. 35,12,000/- between 2011 and 2015. An Agreement of Sale was executed and registered on September 14, 2015. The Corporate Debtor delayed handing over possession. The applicants learned about the initiation of CIRP on September 27, 2019, and filed a claim for Rs. 55,30,269/- with the Resolution Professional on February 2, 2022. The Resolution Professional rejected the claim via email on February 7, 2022, citing the approved Resolution Plan. The applicants filed a Company Appeal on July 28, 2022.
Shankar Sawant…
Shankar Sawant…