https://www.taxtmi.com/caselaws?id=775142 An unregistered agreement to sell executed after the registration requirement could not be relied on to invoke section 53A protection, because such a contract does not create any interest in the property and the plea of part performance therefore failed; the direction to vacate the secured asset was upheld. A purchaser's claim lodged in insolvency and liquidation had to be admitted and dealt with under the statutory claim-admission and distribution framework, and could not be rejected merely on delay without considering substantive entitlement. The Adjudicating Authority could not bypass the insolvency distribution mechanism by ordering direct payment to one stakeholder, so the direct-payment direction was set aside. en-us Thu, 17 Jul 2025 00:00:00 +0530 Mon, 21 Jul 2025 08:43:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=775142 An unregistered agreement to sell executed after the registration requirement could not be relied on to invoke section 53A protection, because such a contract does not create any interest in the property and the plea of part performance therefore failed; the direction to vacate the secured asset was upheld. A purchaser's claim lodged in insolvency and liquidation had to be admitted and dealt with under the statutory claim-admission and distribution framework, and could not be rejected merely on delay without considering substantive entitlement. The Adjudicating Authority could not bypass the insolvency distribution mechanism by ordering direct payment to one stakeholder, so the direct-payment direction was set aside. Case-Laws IBC Thu, 17 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=775142