Possession handover in real estate insolvency requires committee approval before resolution professionals process eligible allottee requests. Regulation 4E requires committee approval by at least sixty-six percent of total votes before a resolution professional hands over possession under a real ... Summary
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Possession handover in real estate insolvency requires committee approval before resolution professionals process eligible allottee requests.
Regulation 4E requires committee approval by at least sixty-six percent of total votes before a resolution professional hands over possession under a real estate project. An allottee must request possession and have performed obligations under the agreement. The resolution professional must facilitate registration and may act under either individual approvals or an in-principle committee authorisation for qualifying requests received during the corporate insolvency resolution process.
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