The NCLAT dismissed the appeals and upheld the impugned order,...

The NCLAT dismissed the appeals and upheld the impugned order, rejecting the appellants' claims for delay and for characterization as homebuyers. The Tribunal found appellants failed to discharge the burden of proof as there was no evidence of transfer of funds into the corporate debtor's bank accounts and no documentary acknowledgement by the corporate debtor. The purported payment receipt lacked date, witness, signature, stamp or reference and was held to be of no evidentiary value; the relied agreement was unregistered and unexecuted. In view of these deficiencies and absence of error in the impugned order, the appeals are devoid of merit and stand dismissed.

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