https://www.taxtmi.com/caselaws?id=769494 NCLAT dismissed appeals challenging cancellation of residential unit allotments made by corporate debtor on CIRP commencement date. Appellants received allotment letters dated 19.09.2019 (same day CIRP commenced) but made payments only in December 2019-January 2020. NCLAT held suspended management lacked authority to allot units after CIRP commencement under moratorium. IRP's cancellation was protective administrative act, not adjudicatory decision requiring show-cause notice. Allotments were void ab initio as issued without IRP approval and payments not received in designated account on allotment date. en-us Wed, 23 Apr 2025 00:00:00 +0530 Sat, 26 Apr 2025 08:30:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=769494 NCLAT dismissed appeals challenging cancellation of residential unit allotments made by corporate debtor on CIRP commencement date. Appellants received allotment letters dated 19.09.2019 (same day CIRP commenced) but made payments only in December 2019-January 2020. NCLAT held suspended management lacked authority to allot units after CIRP commencement under moratorium. IRP's cancellation was protective administrative act, not adjudicatory decision requiring show-cause notice. Allotments were void ab initio as issued without IRP approval and payments not received in designated account on allotment date. Case-Laws IBC Wed, 23 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=769494