2019 (6) TMI 276

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....er (Judicial) And Kanthi Narahari, Member(Technical) For The Appellants : Mr. Harish Taneja, PCS For The Respondent : Mr. Rohit Rathi, Advocate ORDER The Appellant- 'Guneet Pal Singh Majitha' filed claim before the 'Resolution Professional' of 'IAP Company Pvt. Ltd.'- ('Corporate Debtor') and claimed to be a 'Financial Creditor'. The 'Resolution Professional' refused to recognise the A....

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....,25,00,000/- (Rupees One Crore Twenty Five Lakhs Only) as advance money. The Paragraph 11 of the said Agreement reads as follows: "11. Subject to payment of balance timely payment and fulfilment of if the SELLER is unable to transfer the property the possession of the SAID PROPERTY on the stipulated date, the PURCHASER reserves the right to get the sale deed executed through specific perf....

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....ing to the minimum clause above interest payable to the PURCHASER shall be 5.5% not 5% because of the minimum interest clause as mentioned above." 3. From the aforesaid agreement, it is clear that the Appellant is an 'allottee' and further the Agreement suggest that the amount was disbursed by him towards the consideration of time value of money. Thus, we hold that the Appellant comes within....