https://www.taxtmi.com/caselaws?id=310358 A homebuyer who has already obtained a RERA refund order and a Recovery Certificate cannot insist on claim admission as part of the homebuyer class in insolvency. The Tribunal applied the principle that a liability backed by a Recovery Certificate constitutes financial debt, and the certificate holder is therefore a financial creditor. On that basis, the claimant's earlier homebuyer status did not continue for claim-admission purposes, and relief seeking admission in Form CA was rejected. The claim had to be considered in the capacity of a financial creditor, not as a class claim of homebuyers. en-us Tue, 28 Feb 2023 00:00:00 +0530 Fri, 20 Oct 2023 10:16:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=310358 A homebuyer who has already obtained a RERA refund order and a Recovery Certificate cannot insist on claim admission as part of the homebuyer class in insolvency. The Tribunal applied the principle that a liability backed by a Recovery Certificate constitutes financial debt, and the certificate holder is therefore a financial creditor. On that basis, the claimant's earlier homebuyer status did not continue for claim-admission purposes, and relief seeking admission in Form CA was rejected. The claim had to be considered in the capacity of a financial creditor, not as a class claim of homebuyers. Case-Laws Insolvency and Bankruptcy Tue, 28 Feb 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=310358