https://www.taxtmi.com/caselaws?id=446802 Locus under the Insolvency and Bankruptcy Code was recognised for both the real estate regulator and the welfare society because each was directly affected by the admission order and represented affected allottees. On the insolvency issue, the text states that a barter arrangement for advertising services, with units promised as the barter component, did not create operational debt when the grievance was only non-allotment of units. Sections 8 and 9 apply only where there is an unpaid operational debt giving rise to a legally enforceable right to payment in money, so a claim limited to transfer of units cannot sustain a demand notice or insolvency application. en-us Fri, 08 Dec 2023 00:00:00 +0530 Tue, 12 Dec 2023 09:02:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=446802 Locus under the Insolvency and Bankruptcy Code was recognised for both the real estate regulator and the welfare society because each was directly affected by the admission order and represented affected allottees. On the insolvency issue, the text states that a barter arrangement for advertising services, with units promised as the barter component, did not create operational debt when the grievance was only non-allotment of units. Sections 8 and 9 apply only where there is an unpaid operational debt giving rise to a legally enforceable right to payment in money, so a claim limited to transfer of units cannot sustain a demand notice or insolvency application. Case-Laws Insolvency and Bankruptcy Fri, 08 Dec 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=446802