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NCLAT allowed the appeal and set aside the AA's order rejecting belated home-buyer claims. It held that the RP's affidavit and the Corporate Debtor's records, including the Information Memorandum, evidenced valid allotments and payments by the unit-holders, which the RA and CoC were obliged to consider despite filing delays and prior CoC approval of a plan. The Tribunal found the claims verifiable on the record and required them to be treated in the resolution plan; accordingly the AA's rejection could not be sustained. The matter is remitted for consideration of the said claims in accordance with the RP's submissions and applicable insolvency law.
NCLAT allowed the appeal and set aside the AA's order rejecting belated home-buyer claims. It held that the RP's affidavit and the Corporate Debtor's records, including the Information Memorandum, evidenced valid allotments and payments by the unit-holders, which the RA and CoC were obliged to consider despite filing delays and prior CoC approval of a plan. The Tribunal found the claims verifiable on the record and required them to be treated in the resolution plan; accordingly the AA's rejection could not be sustained. The matter is remitted for consideration of the said claims in accordance with the RP's submissions and applicable insolvency law.
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