No IBC Claim After Possession and Deed Execution by Unit Holders

Harpal Singh Chawla Vs Vivek Khanna & Ors. (NCLAT Delhi)

No claim under IBC will survive when Unit Holders handed over possession and conveyance deed had been executed

Conclusion: When a unit holder was handed over possession and a Conveyance Deed had also been executed, no claim survives of such unit holders. Whether a claim filed by a Financial Creditor in a class, deserved admission, was a question, which need to be first looked into by the RP as per the statutory regulations governing the collation and verification of the claim.

Held:�

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