https://www.taxtmi.com/caselaws?id=299075 The petitioners, allottees of a real estate project, were deemed 'Financial Creditors' under the Insolvency and Bankruptcy Code. The Corporate Debtor failed to deliver possession of residential apartments, leading to a default. Arguments on land acquisition and project delays were dismissed. The petition met Section 7 requirements, and a moratorium under Section 14 was declared. The Tribunal admitted the petition, appointed an Interim Resolution Professional, and directed necessary actions, including a deposit by Financial Creditors and document submission by ex-management. en-us Thu, 19 Sep 2019 00:00:00 +0530 Fri, 03 Dec 2021 08:59:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=299075 The petitioners, allottees of a real estate project, were deemed 'Financial Creditors' under the Insolvency and Bankruptcy Code. The Corporate Debtor failed to deliver possession of residential apartments, leading to a default. Arguments on land acquisition and project delays were dismissed. The petition met Section 7 requirements, and a moratorium under Section 14 was declared. The Tribunal admitted the petition, appointed an Interim Resolution Professional, and directed necessary actions, including a deposit by Financial Creditors and document submission by ex-management. Case-Laws Insolvency and Bankruptcy Thu, 19 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=299075