The application was filed by Amit Gupta and Reena Vira, homebuyers, under Section 60(5) of the Insolvency & Bankruptcy Code, 2016, against the Resolution Professional of Vijay Citispace Private Limited, seeking a direction to admit their claim as financial creditors in a class and to admit them to the Committee of Creditors (CoC). The applicants had entered into a Registered Agreement for Sale with the Corporate Debtor in 2018 and made payments towards the consideration of the premises. They filed their claim with a delay of 723 days, which the Resolution Professional rejected, citing the CoC's approval of the Resolution Plan.
Amit Gupta and Reena Vira, the Applicants, entered into a Registered Agreement for Sale dated 18.04.2018 with Vijay Citispace Private Limited, the Corporate Debtor, for Flat No. 805 in the Project known as “Vijay Enclave”. The Applicants made payments to the Corporate Debtor towards the consideration of the premises, which was acknowledged by the Corporate Debtor. The Applicants also obtained a loan from the bank to make payment towards the consideration of the flat and are repaying the said loan through monthly instalments. The Applicants were unable to follow up with the Corporate Debtor in 2021 due to personal circumstances. The Company Petition was filed under section 9 in 2019 by Regency Ispat Private Limited (Operational Creditor) against the Corporate Debtor,
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Applicants entered into…
Company Petition was filed under section 9 by…
The application was filed by Amit Gupta and Reena Vira, homebuyers, under Section 60(5) of the Insolvency & Bankruptcy Code, 2016, against the Resolution Professional of Vijay Citispace Private Limited, seeking a direction to admit their claim as financial creditors in a class and to admit them to the Committee of Creditors (CoC). The applicants had entered into a Registered Agreement for Sale with the Corporate Debtor in 2018 and made payments towards the consideration of the premises. They filed their claim with a delay of 723 days, which the Resolution Professional rejected, citing the CoC's approval of the Resolution Plan.
Amit Gupta and Reena Vira, the Applicants, entered into a Registered Agreement for Sale dated 18.04.2018 with Vijay Citispace Private Limited, the Corporate Debtor, for Flat No. 805 in the Project known as “Vijay Enclave”. The Applicants made payments to the Corporate Debtor towards the consideration of the premises, which was acknowledged by the Corporate Debtor. The Applicants also obtained a loan from the bank to make payment towards the consideration of the flat and are repaying the said loan through monthly instalments. The Applicants were unable to follow up with the Corporate Debtor in 2021 due to personal circumstances. The Company Petition was filed under section 9 in 2019 by Regency Ispat Private Limited (Operational Creditor) against the Corporate Debtor,
…Applicants entered into…
Company Petition was filed under section 9 by…