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IN THE HIGH COURT OF ALLAHABAD
Siddhartha Varma, Yogendra Kumar Srivastava
Manju Rakesh – Appellant
Versus
State Of Up – Respondent
| Table of Content |
|---|
| 1. home buyers seek possession of flats due to builder's non-compliance. (Para 3 , 4 , 5 , 6 , 7) |
| 2. petitioners argue against refund orders and seek possession. (Para 8 , 9 , 10 , 11) |
| 3. court emphasizes alternative remedies under the insolvency act. (Para 12 , 13) |
| 4. supreme court reinforces the integrity of the cirp process. (Para 14 , 15 , 16) |
| 5. writ petitions not entertained; petitioners can pursue legal remedies. (Para 17 , 18 , 19) |
JUDGMENT :
1. Heard Ms Vatsala, learned counsel for the petitioners, Sri Ankit Prakash, learned counsel for respondent no.2, Sri Rohan Gupta, learned counsel for respondent no.3 and learned Standing Counsel for the State.
2. Learned counsel for the parties have agreed that all the writ petitions are based on similar set of facts and have sought similar reliefs, and that they may be heard and decided together.
3. The petitioners/home buyers claim to have been allotted residential flats in project ‘Knights Court’ - Jaypee Greens Wish Town, Sector-128, Noida, Uttar Pradesh developed by Builder-Respondent no.3/Jaiprakash Associates Ltd. Aggrieved by the delay in completion of the project and handing over of possession of the flats in question
The High Court cannot interfere with ongoing insolvency proceedings under the Insolvency and Bankruptcy Code, emphasizing the need for petitioners to pursue remedies within that framework.
Homebuyers cannot claim possession after electing for a refund; finality of RERA order prevails in insolvency proceedings.
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.
The court emphasized that acceptance of possession by homebuyers limits the scope for contesting the terms of such acceptance in insolvency proceedings under the Code.
The Tribunal held that applicants who withdrew from a real estate project and obtained Recovery Certificates cannot pursue corporate insolvency under IBC, thus failing to meet the mandatory allottees....
The main legal point established in the judgment is the interpretation of the provisions of the Act of 2016, particularly regarding the competence of the Authority to pass orders and the mechanism fo....
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