Attachment and proclamation of sale of immovable property: limitation treated from financial year end; proclamation held within period, petition dismi...
Second Schedule attachment and validity of a post-notice mortgage: TRO cannot declare mortgage void ab initio; sale and appropriation allowed thereaft...
Limitation for final assessment under sections 144C and 153 treated jointly, resulting in quashing of timebarred assessment order and liberty to reviv...
Whether a homebuyer's belated claim can be rejected solely because the resolution plan had already been approved by the CoC was answered in the negative. Relying on binding precedent holding that bona fide allottees who paid substantial consideration cannot be relegated to mere refund claimants contrary to the object of the insolvency framework, the appellate forum held that the claim, as already reflected in the information memorandum prepared by the RP, required substantive treatment in the resolution plan. The rejection order was set aside; the RP was directed to provide claim details to the resolution applicant, who must prepare an addendum for placement before the CoC, and the application was allowed to that extent - NCLAT
Whether a homebuyer's belated claim can be rejected solely because the resolution plan had already been approved by the CoC was answered in the negative. Relying on binding precedent holding that bona fide allottees who paid substantial consideration cannot be relegated to mere refund claimants contrary to the object of the insolvency framework, the appellate forum held that the claim, as already reflected in the information memorandum prepared by the RP, required substantive treatment in the resolution plan. The rejection order was set aside; the RP was directed to provide claim details to the resolution applicant, who must prepare an addendum for placement before the CoC, and the application was allowed to that extent - NCLAT
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