https://www.taxtmi.com/caselaws?id=788569 A Section 7 petition based on allottee claims was supported by particulars of payment, default dates and acknowledgements, so debt and default were treated as established and CIRP was justified. The process was confined to the Raheja Shilas (Low Rise) project because project-specific real estate insolvency should not extend to distinct projects of the same developer, and other projects were excluded from the CIRP scope. CIRP was not closed merely because many units had been delivered, as disputes and liabilities remained; withdrawal would lie through the statutory procedure if the parties settled. Creditors of other projects could continue their independent proceedings unaffected by the modified order. en-us Fri, 20 Mar 2026 00:00:00 +0530 Wed, 25 Mar 2026 08:49:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=788569 A Section 7 petition based on allottee claims was supported by particulars of payment, default dates and acknowledgements, so debt and default were treated as established and CIRP was justified. The process was confined to the Raheja Shilas (Low Rise) project because project-specific real estate insolvency should not extend to distinct projects of the same developer, and other projects were excluded from the CIRP scope. CIRP was not closed merely because many units had been delivered, as disputes and liabilities remained; withdrawal would lie through the statutory procedure if the parties settled. Creditors of other projects could continue their independent proceedings unaffected by the modified order. Case-Laws IBC Fri, 20 Mar 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=788569