House Buyer Denied Rs. 43 Crore Claim as Unsecured Creditor in Bankruptcy Case Due to Lack of Proper Documentation.

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....NCLAT dismissed appeal against order rejecting claim of Rs. 42.86 crores by appellant as unsecured creditor. No evidence of loan advanced to corporate debtor. Agreement without registered sale deed cannot transfer immovable property under Registration Act. Mere agreement to sell without sale deed cannot prove claim amount was adjusted against sale consideration in dubious, preferential transaction to defraud creditors.....