Supreme Court of India
Amit Nehra & Anr. v. Pawan Kumar Garg & Ors.
INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.
What the Court ordered
We are of the view that the claim of those homebuyers, who could not file their claims, but whose claims were reflected in the record of the corporate debtor, ought to have been included in the information memorandum and resolution applicant, ought to have taken note of the said liabilities and should have appropriately dealt with them in the resolution plan.
Judgment, page 11
From the headnote
Issue for Consideration Whether the appellants, being allottees of an apartment in a project developed by the erstwhile Corporate Debtor and having admittedly paid a sum of Rs.57,56,684/- out of the total consideration of Rs.60,06,368/-, are to be treated as belated claimants entitled only to refund of 50% of their principal deposit under Clause 18.4(xi), or whether, their claim having been duly verified and incorporated in the list of creditors, they are entitled to possession in terms of Clause 18.4(vi)(a) of the Resolution Plan. Headnotes† Insolvency and Bankruptcy Code, 2016 – s.62 – The
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