https://www.taxtmi.com/caselaws?id=786045 Homebuyers challenged threshold for initiating insolvency proceedings where developer and landowner shared project proceeds; the tribunal found the developer's contractual share (18% of project units) established the relevant creditor base and that threshold must be measured at the time of filing, not later, making the appellants' numeric strength sufficient and rendering the Adjudicating Authority's dismissal erroneous. The tribunal also noted repeated nonappearance of the corporate debtor and proceeded ex parte, but did not decide merits; it allowed the appeal, set aside the impugned order and remanded the petition for fresh adjudication with directions to appear on the listed date. en-us Thu, 04 Sep 2025 00:00:00 +0530 Thu, 05 Feb 2026 09:16:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=786045 Homebuyers challenged threshold for initiating insolvency proceedings where developer and landowner shared project proceeds; the tribunal found the developer's contractual share (18% of project units) established the relevant creditor base and that threshold must be measured at the time of filing, not later, making the appellants' numeric strength sufficient and rendering the Adjudicating Authority's dismissal erroneous. The tribunal also noted repeated nonappearance of the corporate debtor and proceeded ex parte, but did not decide merits; it allowed the appeal, set aside the impugned order and remanded the petition for fresh adjudication with directions to appear on the listed date. Case-Laws IBC Thu, 04 Sep 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=786045