Merely, showing receipts of the transaction amount could not be considered as a surety that the person shall necessarily take possession of the Flat/Apartment, even if that person is considered as an allotee – Mr. Amish Jaysukhlal Sanghrajka Vs. Akshar Shanti Realtors Pvt. Ltd. – NCLT Mumbai Bench
October 22, 2021
The Adjudicating Authority observed that in order to attract the provisions of IBC, a homebuyer must qualify as an ‘Allotee’ under the Section 2 (d) of the RERA Act. For the petitioner to qualify the threshold limit 100 or 10% to initiate a CIRP under the purview of Section 7 of IBC, it must primarily satisfy the requisite of an Allotee which the Petitioner has failed in the instant case. Further, even if we consider that the Petitioner is a Allotee, in line to the Hon’ble NCLAT’s decision in Navin Raheja v. Shilpa Jain & Ors [2020] ibclaw.in 142 NCLAT, we are inclined to reject this petition.