CP(IB)-56/MP/2021-NCLT

Whether Claim against services of publication of advertisement in newspapers can be admitted in the category of Home Buyers (as Financial Debt) in case where Real Estate Company agreed to give possession over Flats by way of a Barter Agreement – Rajasthan Patrika Pvt. Ltd. Vs. Chaya Gupta RP of JSM Devcons Pvt. Ltd. – NCLT Indore Bench

The applicant had provided the services of publication of the advertisement in its newspaper Instead of making cash payment, the corporate debtor had agreed by way of the Barter Agreement to pay it towards the services so provided by way of giving the possession over the said two flats in the project. By virtue of that Barter agreement, the applicant could have been the rightful owner of those two flats but in the case when the project has not been completed, the flats were not physically handover, and the CIRP has been initiated in the case of the Corporate Debtor, the only legitimate option available to the applicant could be by way of filing its claim as operational creditor only.

Whether Claim against services of publication of advertisement in newspapers can be admitted in the category of Home Buyers (as Financial Debt) in case where Real Estate Company agreed to give possession over Flats by way of a Barter Agreement – Rajasthan Patrika Pvt. Ltd. Vs. Chaya Gupta RP of JSM Devcons Pvt. Ltd. – NCLT Indore Bench Read Post »

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