Exclusion of assets: delivered real estate units in possession of allottees are excluded from the liquidation estate for distribution. Regulation 46A stipulates that where a corporate debtor has given possession to an allottee in a real estate project, that asset shall be excluded from ... Summary
Exclusion of assets: delivered real estate units in possession of allottees are excluded from the liquidation estate for distribution.
Regulation 46A stipulates that where a corporate debtor has given possession to an allottee in a real estate project, that asset shall be excluded from the corporate debtor's liquidation estate, thereby removing delivered units from assets available for liquidation and distribution.
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