Lending institutions financing home purchases cannot be classified as financial creditors under IBC

IIFL Home Finance Ltd Vs Shiv Nandan Sharma Resolution Professional Saha Infratech Pvt Ltd (NCLAT Delhi)

In the case of IIFL Home Finance Ltd Vs Shiv Nandan Sharma, Resolution Professional Saha Infratech Pvt Ltd, the National Company Law Appellate Tribunal (NCLAT) in Delhi addressed an appeal arising from an order dated January 23, 2024, by the National Company Law Tribunal (NCLT) in New Delhi. The appellant, IIFL Home Finance Ltd, sought a direction for the Resolution Professional to acknowledge their claims and create a chart concerning the flats being developed by Saha Infratech

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