https://www.taxtmi.com/caselaws?id=469777 Unit purchasers were treated as allottees and financial creditors in a class where agreements and payment records showed debt arising from acquisition of units, bringing the transactions within Section 5(8)(f) of the Insolvency and Bankruptcy Code and supporting admission of claims under Section 3(6). The insolvency framework was held to apply only the RERA-based definitions expressly incorporated in that provision, so the real estate statute's broader promoter definition could not be used to defeat allottee status; the substance of the transaction controlled. Claims were also not liable to rejection merely because the claimants were struck-off companies, were said to be speculative investors, or their claims did not appear in the corporate debtor's financial statements. en-us Tue, 10 Mar 2026 00:00:00 +0530 Fri, 03 Jul 2026 19:00:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=469777 Unit purchasers were treated as allottees and financial creditors in a class where agreements and payment records showed debt arising from acquisition of units, bringing the transactions within Section 5(8)(f) of the Insolvency and Bankruptcy Code and supporting admission of claims under Section 3(6). The insolvency framework was held to apply only the RERA-based definitions expressly incorporated in that provision, so the real estate statute's broader promoter definition could not be used to defeat allottee status; the substance of the transaction controlled. Claims were also not liable to rejection merely because the claimants were struck-off companies, were said to be speculative investors, or their claims did not appear in the corporate debtor's financial statements. Case-Laws IBC Tue, 10 Mar 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=469777