https://www.taxtmi.com/caselaws?id=310357 A decree obtained by an allottee in a real estate allotment dispute does not change the creditor's character for insolvency purposes; the claim continues to arise from the underlying home-buyer transaction. The decree-holder therefore remains within the class of home buyers/financial creditors and remains subject to the collective threshold under the second proviso to Section 7(1) of the Insolvency and Bankruptcy Code, 2016. Where the statutory minimum for filing by that class is not met, a Section 7 application cannot be maintained through the decree route because that would bypass the threshold restriction. en-us Wed, 02 Aug 2023 00:00:00 +0530 Fri, 20 Oct 2023 10:16:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=310357 A decree obtained by an allottee in a real estate allotment dispute does not change the creditor's character for insolvency purposes; the claim continues to arise from the underlying home-buyer transaction. The decree-holder therefore remains within the class of home buyers/financial creditors and remains subject to the collective threshold under the second proviso to Section 7(1) of the Insolvency and Bankruptcy Code, 2016. Where the statutory minimum for filing by that class is not met, a Section 7 application cannot be maintained through the decree route because that would bypass the threshold restriction. Case-Laws Insolvency and Bankruptcy Wed, 02 Aug 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=310357