https://www.taxtmi.com/caselaws?id=414126 The Tribunal concluded that the Petitioners did not qualify as allottees under the Real Estate (Development & Regulation) Act and thus failed to meet the threshold required to initiate Corporate Insolvency Resolution Process under the Insolvency and Bankruptcy Code. The petition was rejected, and relief sought under the Indian Contract Act was deemed outside the Tribunal's scope. The Petitioners' claims regarding non-repayment of debt and breach of contract were not upheld. en-us Tue, 05 Oct 2021 00:00:00 +0530 Thu, 28 Oct 2021 14:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=414126 The Tribunal concluded that the Petitioners did not qualify as allottees under the Real Estate (Development & Regulation) Act and thus failed to meet the threshold required to initiate Corporate Insolvency Resolution Process under the Insolvency and Bankruptcy Code. The petition was rejected, and relief sought under the Indian Contract Act was deemed outside the Tribunal's scope. The Petitioners' claims regarding non-repayment of debt and breach of contract were not upheld. Case-Laws Insolvency and Bankruptcy Tue, 05 Oct 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=414126