https://www.taxtmi.com/highlights?id=88807 NCLAT held that the Section 7 application by home-buyers against the Corporate Debtor was maintainable and not barred by limitation. The Tribunal found sufficient evidence of debt and default, with funds received from home-buyers exceeding Rs. 1 Cr. The allegations of collusive litigation were rejected, emphasizing that inter-shareholder disputes cannot prejudice home-buyers' rights. The Tribunal dismissed all three appeals, upholding the Adjudicating Authority's order admitting the Section 7 application, recognizing home-buyers as legitimate financial creditors who have been awaiting project completion for over a decade. en-us Wed, 28 May 2025 08:26:37 +0530 Wed, 28 May 2025 08:26:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=88807 NCLAT held that the Section 7 application by home-buyers against the Corporate Debtor was maintainable and not barred by limitation. The Tribunal found sufficient evidence of debt and default, with funds received from home-buyers exceeding Rs. 1 Cr. The allegations of collusive litigation were rejected, emphasizing that inter-shareholder disputes cannot prejudice home-buyers' rights. The Tribunal dismissed all three appeals, upholding the Adjudicating Authority's order admitting the Section 7 application, recognizing home-buyers as legitimate financial creditors who have been awaiting project completion for over a decade. Highlights IBC Wed, 28 May 2025 08:26:37 +0530 https://www.taxtmi.com/highlights?id=88807