https://www.taxtmi.com/caselaws?id=450297 NCLAT dismissed appeal by home buyer seeking direction for conveyance deed execution and rent payment from corporate debtor under CIRP. Tribunal held that allottees cannot claim conveyance deed execution as a right during insolvency proceedings. Resolution Professional has discretion to manage corporate debtor's business operations. While allottees' rights must be protected during CIRP, the manner of protection depends on case-specific facts and RP's management decisions. Regarding rent payments, NCLAT noted that rent from allotted units was kept in fixed deposit for disbursement per law, adequately protecting allottees' interests. Adjudicating Authority's order was upheld as it appropriately balanced stakeholder interests during ongoing resolution process. en-us Thu, 29 Feb 2024 00:00:00 +0530 Sat, 02 Mar 2024 06:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=450297 NCLAT dismissed appeal by home buyer seeking direction for conveyance deed execution and rent payment from corporate debtor under CIRP. Tribunal held that allottees cannot claim conveyance deed execution as a right during insolvency proceedings. Resolution Professional has discretion to manage corporate debtor's business operations. While allottees' rights must be protected during CIRP, the manner of protection depends on case-specific facts and RP's management decisions. Regarding rent payments, NCLAT noted that rent from allotted units was kept in fixed deposit for disbursement per law, adequately protecting allottees' interests. Adjudicating Authority's order was upheld as it appropriately balanced stakeholder interests during ongoing resolution process. Case-Laws Insolvency and Bankruptcy Thu, 29 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=450297