Reverse CIRP apply even if the Corporate Debtor is in the business of selling the flats/ apartments/ shops to allottee(s)- Pradip Kumar Chaudhuri Vs. M/s Dagcon (India) Pvt. Ltd. – NCLAT New Delhi
NCLAT held that if the Corporate Debtor is in the business of selling the flats/ apartments/ shops to allottee(s). It is for the Resolution Professional to find out as to who is the allottee in whose favour the Promoter Dagcon (India) Pvt. Ltd. has reached settlement/ Agreement or issued receipts of payments for such allotment and any other documents in support of such claim as may be produced. On receiving of such receipts, if it is found that the flats/ apartments/ shops etc. are to be completed or is completed and ready to be handed over, the ‘Resolution Professional’ is bound to proceed in accordance with law and the guidelines issued in “Flat Buyers Association Winter Hills-77” uninfluenced by the terms of agreement part of the said judgment.
