CIRP cannot be confined to one real-estate project when claims from multiple projects are part of the insolvency record.

Where insolvency claims from allottees of multiple projects form part of the record, the CIRP cannot be confined to one project merely because that project triggered the original Section 7 petition. Claims by allottees of other completed or separately certified projects remain subject to the statutory claim verification process once CIRP commences, and their exclusion is not justified solely by the existence of occupation or completion certificates. Any challenge to admission of a particular claim must be pursued within the insolvency framework. The request to restrict the process to the Spaze Arrow project was therefore rejected.

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Issues: Whether the Corporate Insolvency Resolution Process could be confined only to the project Spaze Arrow, excluding claims and interests arising from other completed projects of the corporate debtor.

Analysis: The relief sought was tested against the record showing that insolvency claims had been filed not only by allottees of Spaze Arrow but also by allottees of several other projects of the corporate debtor. The existence of occupation certificates and completion certificates for other projects did not, by itself, justify excluding the corresponding claims from the insolvency process. Once the CIRP had commenced, all financial creditors, including real-estate allottees from different projects, were entitled to submit claims, which had to be examined through the statutory claim verification process. Any grievance as to admission of a particular claim lay in the remedies provided under the insolvency framework.

Conclusion: The request to restrict the CIRP to only Spaze Arrow was not accepted, and the application was rejected.

Final Conclusion: The insolvency process was permitted to proceed without confining it to a single project, and the application seeking such confinement failed.

Ratio Decidendi: Where claims from allottees of multiple projects are part of the insolvency record, CIRP cannot be confined to one project merely because that project alone formed the basis of the original Section 7 petition.

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