All about “Allottee” and “Real Estate Project” for filing a Real Estate Insolvency Petition
Answer your queries on:
(i) Real Estate Project Meaning [Section 2(zn) of RERA, 2016]
(ii) Allottee Meaning [Section 2(d) of RERA, 2016]
(iii) Allottees to be from same Real Estate Project?
(iv) Holdings by Family Members etc. and Joint Holdings of a Unit: Single Allottee?
(v) What will be the total number of allottees and therefore what would constitute 1/10 of total number of allottees under proviso to Section 7(1) of IBC
(vi) Calculation of threshold under proviso to Section 7(1) of IBC
(vii) Meaning of allotment
(viii) Calculation of default threshold amount for Sec. 4 of IBC in Real Estate Project Insolvency Application/Joint Application
(ix) Single or multiple CIRP application(s) would have to be filled-up, if there are 100 and more allottees?
(x) If they have agreements, under which, the date of default is different, how is the application to be drafted and processed?
(xi) The Point of Time to comply with the threshold requirements: at the time of filing of an application u/s 7 of IBC? or till the date, it is admitted u/s 7(5)?