https://www.taxtmi.com/caselaws?id=763735 A section 7 insolvency application by an allottee class is examined in light of threshold objections based on alleged forged supporting affidavits, force majeure, land-title disputes, absence of privity of contract, and the liability of a project participant. The text states that collateral criminal allegations do not unsettle prior maintainability findings, incomplete project performance and collection from allottees do not by themselves establish force majeure, and pending land disputes do not defeat the insolvency claim. It further notes that a proposed settlement or compromise will not displace the statutory insolvency process unless accepted in accordance with the code. The admission order is described as sustained. en-us Mon, 23 Dec 2024 00:00:00 +0530 Thu, 26 Dec 2024 10:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=763735 A section 7 insolvency application by an allottee class is examined in light of threshold objections based on alleged forged supporting affidavits, force majeure, land-title disputes, absence of privity of contract, and the liability of a project participant. The text states that collateral criminal allegations do not unsettle prior maintainability findings, incomplete project performance and collection from allottees do not by themselves establish force majeure, and pending land disputes do not defeat the insolvency claim. It further notes that a proposed settlement or compromise will not displace the statutory insolvency process unless accepted in accordance with the code. The admission order is described as sustained. Case-Laws IBC Mon, 23 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=763735