Resolution plan approved by CoC cannot be challenged by ...

Resolution plan approved by CoC can't be challenged by individual homebuyer. Homebuyers are financial creditors under IBC & RERA. Different payment schemes for creditor categories valid.

Case Laws Insolvency and Bankruptcy

July 13, 2024

Resolution plan approved by CoC cannot be challenged by individual homebuyer/allottee. Homebuyers/allottees who paid money for real estate project, whether genuine or speculative, are financial creditors under IBC and RERA. Resolution plan providing different payment schemes for different categories of creditors is valid and legally enforceable. Individual homebuyer/allottee lacks locus to challenge resolution plan or classification therein.

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Resolution plan approved by CoC cannot be challenged by ...

Resolution plan approved by CoC can't be challenged by individual homebuyer. Homebuyers are financial creditors under IBC & RERA. Different payment schemes for creditor categories valid.

Case Laws Insolvency and Bankruptcy

July 13, 2024

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