Despite the said homebuyers’ claim being admitted during the Corporate Insolvency Resolution Process (CIRP), the resolution plan approved by the Committee of Creditors (CoC) granted them only 60% of their claim amount, with no entitlement to the apartment in question.
The Gujarat High Court has quashed the demand notice and assessment order in the absence of any claim not forming part of the resolution plan (RP).The bench of Justice Bhargav D. Karia and Justice.
The Delhi High Court has held that the National Faceless Assessment Centre (NFAC) cannot sustain invocation of penalty proceedings based on their own failure to lodge a claim under the Insolvency and.