https://www.taxtmi.com/caselaws?id=397634 A real estate allottee's right to seek refund or possession under the real estate regulatory framework does not justify using Section 7 of the Insolvency and Bankruptcy Code as a debt-recovery tool. The text states that an allottee must comply with payment obligations, delayed-payment interest, possession timelines after the occupancy certificate, and conveyance registration requirements, while refund with interest may arise if the promoter fails to deliver possession as agreed. Where the allottee itself is in default and the proceeding is aimed at recovering money already paid, the insolvency trigger is not appropriate, and available real estate remedies weigh against admission of the application. en-us Thu, 30 Jan 2020 00:00:00 +0530 Mon, 24 Aug 2020 13:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=397634 A real estate allottee's right to seek refund or possession under the real estate regulatory framework does not justify using Section 7 of the Insolvency and Bankruptcy Code as a debt-recovery tool. The text states that an allottee must comply with payment obligations, delayed-payment interest, possession timelines after the occupancy certificate, and conveyance registration requirements, while refund with interest may arise if the promoter fails to deliver possession as agreed. Where the allottee itself is in default and the proceeding is aimed at recovering money already paid, the insolvency trigger is not appropriate, and available real estate remedies weigh against admission of the application. Case-Laws Insolvency and Bankruptcy Thu, 30 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=397634