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The SC allowed the appeal, set aside the NCLAT and NCLT orders, and directed the respondent to execute the conveyance deed and deliver possession of Apartment No. GBD-00-001, Block D, IREO Rise (Gardenia), Mohali to the appellants within two months. The court held the appellants' claim-verified by the resolution professional and incorporated in the published list of creditors prior to plan approval-had full legal recognition under the CIRP and could not lawfully be treated as belated or reduced to a mere refund claim under Clause 18.4(xi). The SC found the lower tribunals misapplied the approved resolution plan and prejudicially relegated bona fide allottees.
The SC allowed the appeal, set aside the NCLAT and NCLT orders, and directed the respondent to execute the conveyance deed and deliver possession of Apartment No. GBD-00-001, Block D, IREO Rise (Gardenia), Mohali to the appellants within two months. The court held the appellants' claim-verified by the resolution professional and incorporated in the published list of creditors prior to plan approval-had full legal recognition under the CIRP and could not lawfully be treated as belated or reduced to a mere refund claim under Clause 18.4(xi). The SC found the lower tribunals misapplied the approved resolution plan and prejudicially relegated bona fide allottees.
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