Case Law Details
Jones Lang Lasalle Building Operations Pvt Ltd Vs Celebration City Projects Pvt Ltd (NCLT Delhi)
This is an application filed by the real estate allottee to the Corporate Debtor, whose claim was rejected by the Resolution Professional on the ground that she ceases to be a real estate allottee on account of an arbitral award dated 25.10.2018 passed in her favor
NCLAT in the matter of Mukul Agarwal Vs. Royale Resinex Private Limited in Company Appeal (AT) (Insolvency) No. 777 of 2020 held that a decree of the civil court will not alter the basic nature of the transaction. The transaction prima facie has to be considered for the purpose of adjudicating the claim and the decree of the Court is a measure of debt and that would be the manner in which it should be heard.
In view of the above position of law, we are inclined to hold that the present petitioner should be treated as the real estate allottee/creditor in class and dealt with accordingly.
FULL TEXT OF THE NCLT DELHI ORDER
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