Completed flat allotment rights prevail where units are not corporate debtor assets and CIRP objections cannot block handover.

Homebuyers who paid consideration directly to Orris Infrastructure Pvt. Ltd. were found entitled to possession of the completed Phase-I flats in the Greenopolis Project, because those units were treated as Orris's property and not assets of Three C Shelters Pvt. Ltd. Objections based on the CIRP of Three C Shelters Pvt. Ltd. were rejected, as earlier Supreme Court and NCLT directions had recognised that Three C Shelters had no right, title or interest in the project and could not control disposal of those flats. Claimants who paid TCSPL were directed to pursue remedies in that CIRP, while attempts to reopen settled issues were held not to defeat handover to Orris's allottees.

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Issues: Whether the homebuyers who had paid consideration directly to Orris Infrastructure Pvt. Ltd. were entitled to possession of the completed Phase-I flats in the Greenopolis Project, and whether objections founded on the CIRP proceedings concerning Three C Shelters Pvt. Ltd. could prevent such handover.

Analysis: The application was decided on the footing that the completed flats in Phase-I belonged to Orris and were not assets of Three C Shelters Pvt. Ltd. The earlier Supreme Court and NCLT directions were treated as recognising that Three C Shelters Pvt. Ltd. had no right, title or interest in the project and could not claim or control disposal of those units. The competing claimants, having paid TCSPL and not Orris, were required to pursue their remedies in the CIRP of TCSPL, whereas the homebuyers who had paid Orris were found to have an independent entitlement to possession of the flats already constructed by Orris. The Court also held that repeated attempts to reopen issues already conclusively decided could not defeat the relief sought for the Orris allottees.

Conclusion: The homebuyers who paid Orris were held entitled to possession of the completed Phase-I flats, and the objections based on TCSPL proceedings were rejected as no legal impediment to such handover.

Ratio Decidendi: Where completed units belong to a third party and are not part of the corporate debtor's assets, objections raised through the corporate debtor's CIRP cannot the handover of those units to the party's own allottees.

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