Insolvency & Bankruptcy Code-Home buyers: Most outstanding judgement – reduction of voting share

Nikhil Mehta & Sons (HUF) & Ors vs M/s AMR Infrastructure Ltd. (NCLT, New Delhi) In a memorable and consequential judgement, in the matter of Nikhil Mehta & Sons (HUF)& Or’s vs M/s AMR Infrastructure Ltd (CA No. 811(PB/2018 in IB-02(pb)/2017, it has been upheld that the voting threshold in the IBC are merely directory in nature and that preference can be taken to decision taken by the largest percentage in the Committee of Creditors in case of a deadlock. For a homebuyer or commercial property buyer, both of them involved in this case, the judge made an eventful judgement whi...