The case involves an application filed under Section 60(5) of the IBC, 2016, seeking reliefs related to the admission of a claim by the applicant, who is a homebuyer, after the approval of a resolution plan. The applicant had paid a significant amount towards the allotment of flats in a project by the Corporate Debtor. The applicant's claim was initially rejected by the RP as time-barred. The applicant then filed an application against the rejection, which was dismissed. Appeals to NCLAT and the Supreme Court were also dismissed, with the Supreme Court granting liberty to pursue other remedies.
Sunil Handa & Ors, the financial creditor, initiated CIRP against Today Homes Noida Private Limited, the corporate debtor. SP Probuild LLP, the applicant, sought admission of its claim after the resolution plan's approval. The applicant had paid Rs. 12,70,05,642 towards the allotment of 50 flats, with possession of only 9 flats handed over in 2018. The RP rejected the applicant's claim as time-barred on 24.03.2021. The CIRP was initiated on 20.08.2019. The applicant's earlier application (IA No. 3213/2021) against the rejection was dismissed, and appeals to NCLAT and the Supreme Court were also unsuccessful. The applicant argued that the rejection order should be recalled based on the subsequent judgment in 'Puneet Kaur vs. KV Developers'. The applicant claimed
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9 flats were…
CIRP was initiated…
The case involves an application filed under Section 60(5) of the IBC, 2016, seeking reliefs related to the admission of a claim by the applicant, who is a homebuyer, after the approval of a resolution plan. The applicant had paid a significant amount towards the allotment of flats in a project by the Corporate Debtor. The applicant's claim was initially rejected by the RP as time-barred. The applicant then filed an application against the rejection, which was dismissed. Appeals to NCLAT and the Supreme Court were also dismissed, with the Supreme Court granting liberty to pursue other remedies.
Sunil Handa & Ors, the financial creditor, initiated CIRP against Today Homes Noida Private Limited, the corporate debtor. SP Probuild LLP, the applicant, sought admission of its claim after the resolution plan's approval. The applicant had paid Rs. 12,70,05,642 towards the allotment of 50 flats, with possession of only 9 flats handed over in 2018. The RP rejected the applicant's claim as time-barred on 24.03.2021. The CIRP was initiated on 20.08.2019. The applicant's earlier application (IA No. 3213/2021) against the rejection was dismissed, and appeals to NCLAT and the Supreme Court were also unsuccessful. The applicant argued that the rejection order should be recalled based on the subsequent judgment in 'Puneet Kaur vs. KV Developers'. The applicant claimed
…9 flats were…
CIRP was initiated…