Eleven allottees/homebuyers (Applicants) filed an application under Section 60(5) of the IBC, 2016, seeking directions to the Resolution Professional (RP) to hand over possession of their units in the 'Privvy The Address' project, execute Conveyance Deeds, and adjust/waive various disputed demands. These demands included increases in super area, EDC/IDC, external electrification charges, preferential location charges, club development charges, labour cess, and interest. The Applicants had previously approached the Haryana Real Estate Regulatory Authority (HRERA) regarding these disputes, which dismissed their complaints. An appeal to the Haryana Real Estate Appellate Tribunal (HREAT) was pending when CIRP commenced against the Corporate Debtor, Spaze Towers Pvt. Ltd.
…The Applicants are 11 allottees/homebuyers in the residential project 'Privvy The Address' developed by Spaze Towers Pvt. Ltd.
Builder Buyer Agreements (BBAs) stipulated possession within 36/42 months, but possession was not handed over within this period.
The Corporate Debtor offered possession in November 2017 without an Occupation Certificate, which was received on 20.07.2018.
The Corporate Debtor raised additional demands for increased super area, EDC/IDC, external electrification charges, preferential location charges, club development charges, labour cess, and interest.
The Applicants disputed these demands, alleging they were illegal and unjust.
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Corporate Debtor…
Applicants, through Privvy 93 Owners…
Eleven allottees/homebuyers (Applicants) filed an application under Section 60(5) of the IBC, 2016, seeking directions to the Resolution Professional (RP) to hand over possession of their units in the 'Privvy The Address' project, execute Conveyance Deeds, and adjust/waive various disputed demands. These demands included increases in super area, EDC/IDC, external electrification charges, preferential location charges, club development charges, labour cess, and interest. The Applicants had previously approached the Haryana Real Estate Regulatory Authority (HRERA) regarding these disputes, which dismissed their complaints. An appeal to the Haryana Real Estate Appellate Tribunal (HREAT) was pending when CIRP commenced against the Corporate Debtor, Spaze Towers Pvt. Ltd.
…The Applicants are 11 allottees/homebuyers in the residential project 'Privvy The Address' developed by Spaze Towers Pvt. Ltd.
Builder Buyer Agreements (BBAs) stipulated possession within 36/42 months, but possession was not handed over within this period.
The Corporate Debtor offered possession in November 2017 without an Occupation Certificate, which was received on 20.07.2018.
The Corporate Debtor raised additional demands for increased super area, EDC/IDC, external electrification charges, preferential location charges, club development charges, labour cess, and interest.
The Applicants disputed these demands, alleging they were illegal and unjust.
…Corporate Debtor…
Applicants, through Privvy 93 Owners…