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SANJAY KUMAR, SATISH CHANDRA SHARMA
Amit Nehra – Appellant
Versus
Pawan Kumar Garg – Respondent
| Table of Content |
|---|
| 1. appellants' claim is based on substantial payments and failure of possession delivery. (Para 1 , 2 , 3 , 4 , 5 , 6 , 7 , 8 , 9) |
| 2. appellants argue misapplication of resolution plan. (Para 10 , 11 , 12 , 13 , 14 , 15) |
| 3. respondents assert appellants failed to file timely claims. (Para 16 , 17 , 18 , 19) |
| 4. nclt findings on appellants' claims. (Para 21 , 22 , 23 , 24 , 25 , 26) |
| 5. nclt findings (Para 27) |
| 6. court analyzes rights under the resolution plan concerning claims. (Para 28 , 29 , 30 , 31 , 32 , 33 , 34 , 35 , 36 , 37 , 38) |
| 7. court grants relief for possession of the apartment. (Para 39 , 40 , 41 , 42) |
JUDGMENT :
SATISH CHANDRA SHARMA, J.
STATEMENT OF FACTS
1. This Civil Appeal under Section 62 of the Insolvency and Bankruptcy Code, 2016 (the “IBC”) is filed against the judgment and final order dated 10.01.2025 passed by the National Company Law Appellate Tribunal, New Delhi (the “NCLAT”) in Company Appeal (AT) (Insolvency) No. 1365 of 2023, whereby the NCLAT affirmed the decision of the National Company Law Tribunal, Principal Bench, New Delhi (the “NCLT”) rejecting the Appellants claim for possession of their residential apartment in the real estate project of
Claims not filed during the Corporate Insolvency Resolution Process are extinguished after approval of the resolution plan.
Homebuyers cannot claim possession after electing for a refund; finality of RERA order prevails in insolvency proceedings.
Belated claims by genuine allottees in liquidation condonable despite 847-day delay if payments reflected in debtor records and no prejudice, payable from unclaimed liquidation funds held by IBBI.
Final RERA refund decree crystallises homebuyer rights to refund, barring possession claims in CIRP; RP bound by decree and resolution plan exit policy without order modification.
Approved resolution plans under IBC attain finality; belated claims extinguished despite proven financial creditor status.
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