https://www.taxtmi.com/caselaws?id=407703 A homebuyer petition under section 7 of the Insolvency and Bankruptcy Code must satisfy the amended class-based threshold before it can be maintained. A filing by only two homebuyers does not meet the required numerical minimum, so such a petition is not maintainable. The Code also cannot be used as a recovery forum to execute an order obtained under the Real Estate (Regulation & Development) Act, 2016. An adjudicated claim or recovery order from another forum must be enforced through that forum's execution mechanism, not by converting it into an insolvency proceeding. en-us Thu, 13 May 2021 00:00:00 +0530 Wed, 19 May 2021 13:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=407703 A homebuyer petition under section 7 of the Insolvency and Bankruptcy Code must satisfy the amended class-based threshold before it can be maintained. A filing by only two homebuyers does not meet the required numerical minimum, so such a petition is not maintainable. The Code also cannot be used as a recovery forum to execute an order obtained under the Real Estate (Regulation & Development) Act, 2016. An adjudicated claim or recovery order from another forum must be enforced through that forum's execution mechanism, not by converting it into an insolvency proceeding. Case-Laws Insolvency and Bankruptcy Thu, 13 May 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=407703