https://www.taxtmi.com/caselaws?id=430730 A purported settlement allotment of flats could not convert a prior loan claimant into a homebuyer or allottee in CIRP where the original advance was a loan, the project was already encumbered by a secured lender's charge, and no required no-objection certificate had been obtained. On those facts, the claimed allotment did not establish a clear right to file Form-CA as a genuine allottee under real estate law. The claim was therefore to be treated as an ordinary creditor claim, and rejection of Form-CA treatment was found to be free from infirmity. en-us Wed, 23 Nov 2022 00:00:00 +0530 Thu, 24 Nov 2022 18:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=430730 A purported settlement allotment of flats could not convert a prior loan claimant into a homebuyer or allottee in CIRP where the original advance was a loan, the project was already encumbered by a secured lender's charge, and no required no-objection certificate had been obtained. On those facts, the claimed allotment did not establish a clear right to file Form-CA as a genuine allottee under real estate law. The claim was therefore to be treated as an ordinary creditor claim, and rejection of Form-CA treatment was found to be free from infirmity. Case-Laws Insolvency and Bankruptcy Wed, 23 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=430730