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NATIONAL COMPANY LAW TRIBUNAL
SH. MOHAN PRASAD TIWARI, J, SH. CHARANJEET SINGH GULATI, T
Catalyst Trusteeship Limited – Appellant
Versus
Renaissance Indus Infra Private Limited – Respondent
| Table of Content |
|---|
| 1. interlocutory application for creditor classification. (Para 1 , 2 , 3 , 4) |
| 2. development projects categorized under state legislation. (Para 5 , 7 , 10) |
| 3. classification of the applicant's claim in terms of financial creditor status. (Para 16 , 19 , 22) |
| 4. differentiating between homebuyers and speculative investors. (Para 23 , 24 , 28) |
| 5. conclusion on the applicant's claim classification. (Para 30 , 32) |
| 6. final ruling on the application. (Para 33) |
ORDER
1. The present Interlocutory Application is filed Under Section 60 (5) of Insolvency and Bankruptcy Code 2016 by the Applicant for admission of the Claim of Applicant under the category of 'Financial Creditor' (instead of IRP's admission of the Claim of Applicant under the category of 'other creditor') and admission of the Applicant in the Committee of Creditors of the Corporate Debtor.
2. The brief facts are that the Corporate Debtor was engaged in the development of the Renaissance Industrial Smart City Project (“Project”), a project duly approved and registered under RERA. Pursuant to a registered Agreement for Sale dated 31 March 2022 (“Agreement for Sale”) and a Memorandum of Understanding dated 13 April 2022
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