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NATIONAL COMPANY LAW TRIBUNAL
Mohan Prasad Tiwari, Member (J), Charanjeet Singh Gulati, Member (T)
Jasvinder Paramjit Seehra – Appellant
Versus
Birendra Kumar Agarwal – Respondent
| Table of Content |
|---|
| 1. applicants claim financial debt status for industrial unit payments. (Para 1) |
| 2. core issue: qualifies as financial debt under s.5(8) ibc? (Para 4 , 5 , 6 , 7 , 8) |
| 3. rera covers industrial developments intended for sale. (Para 9 , 10) |
| 4. industrial investors with returns not homebuyers under ibc protections. (Para 11 , 12 , 13 , 14 , 15 , 16 , 17) |
| 5. claim as other creditor affirmed; ia dismissed. (Para 18 , 19 , 20) |
ORDER
I.A. NO. 5593/2023
1. The present application is filed by the Applicants, under Section 60 (5) of the Insolvency and Bankruptcy Code, 2016, to direct the Respondent to admit the entire claim of the Applicants as submitted in Form-CA and to treat the claim of the Applicants as a financial debt, also to direct the Respondent to classify the Applicants as ‘financial creditors in a class’ and to admit them to the Committee of Creditors, also, to provide the status of the Unit No. 4 in pre-engineered building No. WE-IV located at Renaissance Industrial Smart City, Village: Vashere, Post: Amane, Tal: Bhiwandi, Dist: Thane, Maharashtra and to Pass such other(s), direction(s) as deemed fit and proper in the facts and circumstances of the present case.
2.1 Bri
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