The present appeal was filed against the final judgment and order passed by the National Consumer Disputes Redressal Commission (NCDRC), wherein multiple penalties (27 in total) were imposed on the appellant for failing to deliver possession of residential units to homebuyers as per the agreed timeline. The appellant seeks a stay on the penalty proceedings before the NCDRC, contending that an application under Section 95 of the Insolvency and Bankruptcy Code, 2016 has been filed against them, triggering an interim moratorium under Section 96 of the IBC. The NCDRC allowed complaints by homebuyers alleging delay in possession, deficiency in service, and breach of contractual obligations in its final judgment dated 10.08.2018. The NCDRC directed the appellant to complete
…Saranga Anilkumar Aggarwal, the appellant, faced multiple penalties imposed by the National Consumer Disputes Redressal Commission (NCDRC) for failing to deliver possession of residential units to homebuyers as per the agreed timeline. Aggarwal sought a stay on these penalty proceedings, arguing that an insolvency application under Section 95 of the Insolvency and Bankruptcy Code (IBC) had triggered an interim moratorium under Section 96 of the IBC. The NCDRC had previously allowed complaints from homebuyers, citing delays in possession, deficiency in service, and breach of contractual obligations, and had directed Aggarwal to complete construction, obtain occupancy certificates, and hand over possession, along with imposing 27 penalties. Aggarwal, facing insolvency
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The present appeal was filed against the final judgment and order passed by the National Consumer Disputes Redressal Commission (NCDRC), wherein multiple penalties (27 in total) were imposed on the appellant for failing to deliver possession of residential units to homebuyers as per the agreed timeline. The appellant seeks a stay on the penalty proceedings before the NCDRC, contending that an application under Section 95 of the Insolvency and Bankruptcy Code, 2016 has been filed against them, triggering an interim moratorium under Section 96 of the IBC. The NCDRC allowed complaints by homebuyers alleging delay in possession, deficiency in service, and breach of contractual obligations in its final judgment dated 10.08.2018. The NCDRC directed the appellant to complete
…Saranga Anilkumar Aggarwal, the appellant, faced multiple penalties imposed by the National Consumer Disputes Redressal Commission (NCDRC) for failing to deliver possession of residential units to homebuyers as per the agreed timeline. Aggarwal sought a stay on these penalty proceedings, arguing that an insolvency application under Section 95 of the Insolvency and Bankruptcy Code (IBC) had triggered an interim moratorium under Section 96 of the IBC. The NCDRC had previously allowed complaints from homebuyers, citing delays in possession, deficiency in service, and breach of contractual obligations, and had directed Aggarwal to complete construction, obtain occupancy certificates, and hand over possession, along with imposing 27 penalties. Aggarwal, facing insolvency
…NCDRC issued its final judgment in…
Application under…