Initially entered into an agreement for purchase of flat and subsequently advance paid was converted into a loan, cannot change the basic nature of transaction and Financial Creditor will remain an allottee within the meaning of Sec. 2(d) of the RERA Act, 2016 and is required to comply proviso to Section 7(1) of IBC to initiate CIRP – Shreepati Build Infra Investment Ltd. Vs. Abhiyan Developers Pvt. Ltd. – NCLT Mumbai Bench

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Appellant who has filed an Appeal under Section 61 of IBC is entitled benefit u/s 14 of the Limitation Act, 1963 for proceeding in the High Court under Article 226 which writ proceedings were also dismissed on the ground of availability of the alternative remedy – Vikram Bhawanishankar Sharma, Member of the Suspended Board of Directors of Supreme Vasai Bhiwandi Tollways Pvt. Ltd. Vs. SREI Infrastructure Finance Ltd. & Anr. – NCLAT New Delhi

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