# In the matter of Anjali Rathi and Others Vs. Today Homes & Infrastructure Pvt. Ltd. and Others, SLP (C) No. 12150 of 2019

> SC judgment dated 2021-09-08. Citation: TCN-2021-SC-00019. The case involves home buyers in a group housing project, Canary Greens, developed by Today Homes &…

- **Court:** SC
- **Order date:** 8 Sept 2021
- **Citation:** TCN-2021-SC-00019
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/supreme-court-of-india/anjali-rathi-and-others-vs-today-homes-infrastructure-pvt-ltd-and-others-slp-a52246b8

## Summary

### Background

The case involves home buyers in a group housing project, Canary Greens, developed by Today Homes & Infrastructure Pvt. Ltd. The home buyers filed proceedings before the National Consumer Dispute Redressal Commission (NCDRC) seeking a refund of their money with interest after the developer abandoned the project. The NCDRC allowed their claim. Execution proceedings were initiated. The developer challenged the NCDRC order before the Delhi High Court, which stayed the order. The NCDRC passed further orders in the execution proceedings. The Supreme Court was approached through Special Leave Petitions. Subsequently, insolvency proceedings were initiated against the developer before the NCLT under Section 9 of the Insolvency and Bankruptcy Code (IBC) by an operational

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## Facts

The petitioners are home buyers in the Canary Greens project developed by Today Homes & Infrastructure Pvt. Ltd. The developer abandoned the project, leading the home buyers to seek refunds with interest from the NCDRC. The NCDRC ruled in favor of the home buyers. Execution proceedings were initiated, but the developer challenged the NCDRC order in the Delhi High Court, which granted a stay. Subsequently, insolvency proceedings were initiated against the developer under Section 9 of the IBC, resulting in a moratorium under Section 14. A Resolution Plan, approved by the home buyers-led CoC, was submitted for approval to the Adjudicating Authority. The NCDRC had directed the Managing Director to be taken into custody and properties attached if the refund wasn't made,

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## Issues and analysis

### Issue 1: Whether the moratorium under Section 14 of the IBC prevents proceedings against the promoters of …

**Ratio:** The moratorium under Section 14 of the IBC applies only to the Corporate Debtor and does

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**Reasoning:** The Supreme Court relied on its judgment in P. Mohanraj v. Shah Bros. Ispat (P) Ltd.,

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**Interpretation:** Section 14 of the IBC is interpreted to provide a shield to the corporate

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**Application:** The court applied this principle to the present case, clarifying that the

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## Parties

- **Judges:** Dr Dhananjaya Y…; VIKRAM…; +1 more
- **Appellants:** Anjali…
- **Respondents:** Today Homes &…

## Timeline

- **2014-01-01 — Expected Pos…**: Expected possession of…
- **2018-07-12 — NCDRC Or…**: NCDRC directed refund…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 9 — Application for initiation of corporate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-9)

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