https://www.taxtmi.com/caselaws?id=777645 Where homebuyers established the Section 7 threshold under the Insolvency and Bankruptcy Code, 2016, admission of CIRP against the land-owning company was sustainable because the adjudicating authority had only to verify debt, default and completeness of the application. The pending CIRP and later resolution plan process for the developer company did not bar initiation against the separate but interlinked land-owning company, especially after an earlier binding direction requiring lawful commencement of CIRP against that entity before consolidation could be considered. The admission order was therefore affirmed and both appeals failed. en-us Fri, 29 Aug 2025 00:00:00 +0530 Wed, 03 Sep 2025 08:19:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=777645 Where homebuyers established the Section 7 threshold under the Insolvency and Bankruptcy Code, 2016, admission of CIRP against the land-owning company was sustainable because the adjudicating authority had only to verify debt, default and completeness of the application. The pending CIRP and later resolution plan process for the developer company did not bar initiation against the separate but interlinked land-owning company, especially after an earlier binding direction requiring lawful commencement of CIRP against that entity before consolidation could be considered. The admission order was therefore affirmed and both appeals failed. Case-Laws IBC Fri, 29 Aug 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=777645