Force majeure event impacts project completion, CIRP initiated. RERA relief sought, Section 7 application filed for refund, later rejected.

Initiation of CIRP - Apart from the fact that there are ‘force majeure’ due to which the ‘Corporate Debtor’ could not complete the project, it is found that the 1st Respondent knocked the doors of the RERA and instead of waiting there, moved application under Section 7 not for Insolvency Resolution to get the Flat/ Apartment or liquidation, but for refund of the amount already paid. - Further after reaching upon the settlement, application rejected - AT .....

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