https://www.taxtmi.com/caselaws?id=419562 Development rights created under a joint development arrangement can constitute property of the corporate debtor for insolvency purposes even where no leasehold interest is created. The Tribunal treated the rights arising from the JDA, supported by project approvals, RERA registration, construction activity, and the lessor's knowledge, as part of the insolvency estate under the Code. It also upheld the direction requiring the authority to lodge its claim and participate in the CIRP, noting the advanced stage of the resolution process, prior closure of the claim-filing right, the limited scope of appellate review, and the need to avoid delay and prejudice to homebuyers. The impugned order was sustained. en-us Tue, 08 Mar 2022 00:00:00 +0530 Tue, 15 Mar 2022 12:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=419562 Development rights created under a joint development arrangement can constitute property of the corporate debtor for insolvency purposes even where no leasehold interest is created. The Tribunal treated the rights arising from the JDA, supported by project approvals, RERA registration, construction activity, and the lessor's knowledge, as part of the insolvency estate under the Code. It also upheld the direction requiring the authority to lodge its claim and participate in the CIRP, noting the advanced stage of the resolution process, prior closure of the claim-filing right, the limited scope of appellate review, and the need to avoid delay and prejudice to homebuyers. The impugned order was sustained. Case-Laws Insolvency and Bankruptcy Tue, 08 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=419562