https://www.taxtmi.com/caselaws?id=292890 Valid commercial unit allotment letters that remain uncancelled keep the applicants within the statutory concept of an allottee under the real estate framework, so they may be classified as financial creditors in a class for insolvency purposes. A proposed substitute arrangement that did not result in fresh allotment letters does not displace the earlier allotments. An applicant against whom no unit was ever allotted cannot be placed in that class and is to be treated only as a financial creditor. en-us Wed, 26 Aug 2020 00:00:00 +0530 Mon, 11 Jan 2021 19:14:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=292890 Valid commercial unit allotment letters that remain uncancelled keep the applicants within the statutory concept of an allottee under the real estate framework, so they may be classified as financial creditors in a class for insolvency purposes. A proposed substitute arrangement that did not result in fresh allotment letters does not displace the earlier allotments. An applicant against whom no unit was ever allotted cannot be placed in that class and is to be treated only as a financial creditor. Case-Laws Insolvency and Bankruptcy Wed, 26 Aug 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=292890