Home-buyer insolvency claim requires clear documentary proof; inconsistent payment records justify rejection of admission.

A home-buyer insolvency claim was rejected where the applicant failed to produce clear, consistent documentary proof that the alleged consideration had been actually paid by him in a verifiable manner. Registered sale documents, a memorandum of agreement and asserted receipts did not coherently align with the banking records, creating serious inconsistencies. The tribunal treated the claim as speculative rather than a genuine financial debt and reiterated that a claimant must substantiate entitlement with reliable evidence sufficient to satisfy the Resolution Professional or, on challenge, the Adjudicating Authority. The rejection of admission as a home-buyer financial creditor was upheld.

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Issues: Whether the applicant established entitlement to have the claim admitted as a home buyer financial creditor and whether the rejection of the claim by the Resolution Professional was unjustified.

Analysis: The claim was founded on registered sale documents, a memorandum of agreement and alleged payments, but the supporting materials did not coherently establish payment by the applicant or correlate with the banking records and receipts produced. The applicant did not produce adequate proof to show that the monies were actually disbursed by him in a legally verifiable manner, and the materials raised serious inconsistencies. On the facts, the claim was treated as speculative rather than a genuine home-buyer claim. In insolvency proceedings, the claimant bears the burden to substantiate the claim with reliable documents sufficient to satisfy the Resolution Professional or, on challenge, the Adjudicating Authority.

Conclusion: The applicant was not entitled to be treated as a home buyer financial creditor, and the rejection of the claim was upheld.

Ratio Decidendi: A claim in insolvency must be proved by clear and consistent documentary evidence, and a speculative or inadequately supported home-buyer claim cannot be admitted as a financial debt under the Code.

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