Homebuyers, Regardless of RERA Decree, belong to same category of allottees: NCLT

Rahul Gyanchandani Vs Parsvnath Landmark Developers Pvt. Ltd. (NCLT Delhi) In a recent ruling by the National Company Law Tribunal (NCLT) Delhi, a significant clarification has been made regarding the classification of homebuyers under the Real Estate (Regulation and Development) Act, 2016 (RERA) in relation to the Insolvency and Bankruptcy Code, 2016 (IBC). The case of Rahul Gyanchandani vs. Parsvnath Landmark Developers Pvt. Ltd. sheds light on the status of homebuyers seeking relief under the IBC, particularly concerning the initiation of Corporate Insolvency Resolution Process (CIRP). Back...