https://www.taxtmi.com/caselaws?id=444726 A real estate allottee does not lose the status of financial creditor or home buyer merely because relief has been obtained under RERA; crystallisation of the claim by a RERA order does not alter the character of the underlying debt under the Insolvency and Bankruptcy Code, 2016. A resolution plan cannot validly create a separate class between allottees who invoked RERA remedies and those who did not, because such a distinction is artificial, lacks rational basis, and offends Article 14. The overriding effect of the IBC prevents such differential treatment of similarly situated allottees in insolvency. en-us Fri, 06 Oct 2023 00:00:00 +0530 Tue, 12 Nov 2024 12:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=444726 A real estate allottee does not lose the status of financial creditor or home buyer merely because relief has been obtained under RERA; crystallisation of the claim by a RERA order does not alter the character of the underlying debt under the Insolvency and Bankruptcy Code, 2016. A resolution plan cannot validly create a separate class between allottees who invoked RERA remedies and those who did not, because such a distinction is artificial, lacks rational basis, and offends Article 14. The overriding effect of the IBC prevents such differential treatment of similarly situated allottees in insolvency. Case-Laws IBC Fri, 06 Oct 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=444726