Mr. Rajkumar Jhawar and Mrs. Shobha Jhawar, homebuyers of "MONARCH BROOKFIELDS", filed an application under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, seeking the exclusion of Flat No. 1002 from the corporate insolvency resolution process of Monarch Brookfields LLP. The applicants claimed that they had purchased the flat from the Corporate Debtor vide a registered Agreement for Sale dated 23.04.2012 and had paid the entire sale consideration. The Corporate Debtor failed to hand over possession of the flat. Subsequently, CIRP was initiated against the Corporate Debtor, and a resolution plan was approved. The applicants submitted their claim after the approval of the resolution plan.
Mr. Rajkumar Jhawar and Mrs. Shobha Jhawar, homebuyers, sought to exclude Flat No. 1002 from the CIRP of Monarch Brookfields LLP. They entered into a registered Agreement for Sale on 23.04.2012 for Rs. 42,00,000. They claimed to have paid the entire consideration. The Corporate Debtor was constructing a residential cum commercial building named "MONARCH BROOKEFIELDS". The Corporate Debtor failed to hand over possession within the stipulated time. CIRP was initiated against the Corporate Debtor on 27.09.2019, based on a petition by Capri Global Capital Ltd. The applicants submitted their claim on 11.06.2024, after the resolution plan was approved by the CoC and reserved for orders. The Resolution Professional (Respondent No. 1) contested the claim, citing
…Sign in to view the parties.
The Corporate Debtor entered into a Registered…
Corporate Insolvency Resolution Process (CIRP)…
Mr. Rajkumar Jhawar and Mrs. Shobha Jhawar, homebuyers of "MONARCH BROOKFIELDS", filed an application under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, seeking the exclusion of Flat No. 1002 from the corporate insolvency resolution process of Monarch Brookfields LLP. The applicants claimed that they had purchased the flat from the Corporate Debtor vide a registered Agreement for Sale dated 23.04.2012 and had paid the entire sale consideration. The Corporate Debtor failed to hand over possession of the flat. Subsequently, CIRP was initiated against the Corporate Debtor, and a resolution plan was approved. The applicants submitted their claim after the approval of the resolution plan.
Mr. Rajkumar Jhawar and Mrs. Shobha Jhawar, homebuyers, sought to exclude Flat No. 1002 from the CIRP of Monarch Brookfields LLP. They entered into a registered Agreement for Sale on 23.04.2012 for Rs. 42,00,000. They claimed to have paid the entire consideration. The Corporate Debtor was constructing a residential cum commercial building named "MONARCH BROOKEFIELDS". The Corporate Debtor failed to hand over possession within the stipulated time. CIRP was initiated against the Corporate Debtor on 27.09.2019, based on a petition by Capri Global Capital Ltd. The applicants submitted their claim on 11.06.2024, after the resolution plan was approved by the CoC and reserved for orders. The Resolution Professional (Respondent No. 1) contested the claim, citing
…The Corporate Debtor entered into a Registered…
Corporate Insolvency Resolution Process (CIRP)…