https://www.taxtmi.com/highlights?id=96616 The Tribunal held that homebuyers as a class of creditors met the quantitative threshold for initiating a Section 7 application because the corporate debtor's developed-share entitlement produced sufficient allotted units; therefore the Section 7 petition should not have been dismissed on threshold grounds. The Tribunal treated the development agreement allocation (18% share) and actual units sold by the corporate debtor as relevant to eligibility at filing, and concluded the threshold is assessed at filing rather than later-consequence: remand to the Adjudicating Authority. The Tribunal also noted maintainability of proceedings against related landowner/developer parties forming the same project and recorded ex parte conduct by the corporate debtor, without deciding merits. en-us Thu, 05 Feb 2026 09:16:12 +0530 Thu, 05 Feb 2026 09:16:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=96616 The Tribunal held that homebuyers as a class of creditors met the quantitative threshold for initiating a Section 7 application because the corporate debtor's developed-share entitlement produced sufficient allotted units; therefore the Section 7 petition should not have been dismissed on threshold grounds. The Tribunal treated the development agreement allocation (18% share) and actual units sold by the corporate debtor as relevant to eligibility at filing, and concluded the threshold is assessed at filing rather than later-consequence: remand to the Adjudicating Authority. The Tribunal also noted maintainability of proceedings against related landowner/developer parties forming the same project and recorded ex parte conduct by the corporate debtor, without deciding merits. Highlights IBC Thu, 05 Feb 2026 09:16:12 +0530 https://www.taxtmi.com/highlights?id=96616