Builder-Buyer dispute before the NCLT

Where an allottee of a commercial / residential property was assured of an annual return  by the Builder and the Builder continued to pay the returns on or before the due dates, the application filed by the allottee under Section 7 of IBC as Financial Creditor to initiate CIRP against the Builder for failure to   refund the deposit along with the interest as there had been an inordinate delay in handing over the possession of the property, did not succeed. NCLT held that there was no default in paying financial debt hence the applicant is not a financial creditor and set aside the application. (Pawan Dubey Vs JBK Developers Pvt Ltd – 16.02.2018).

For any query in this regard contact us.

Our Esteemed Clients

altec audio pvt ltd
dev IT consulting
Excellimatrics Private Limited, Noida
horizon buildcon
Jindal Green Technologies
RTC Industries Private Limited, New Delhi.
Breakson (OPC) Private Limited, new delhi
First Handle Private Limited, Noida
warp speed tech
Star Paper Mills Limited
scenic developers
gupta polymers
freightronics
dot com pharma
chanan devi agrawal
mihama
sky energy
ikris pharma

Leave a Reply