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Speculative Investor Ineligible for Financial Creditor Status under IBC
Case Law Details
- Case Name
- Naman Infradevelopers Pvt. Ltd. Vs Metcalfe Properties Pvt. Ltd. (NCLAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- NCLAT
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Naman Infradevelopers Pvt. Ltd. Vs Metcalfe Properties Pvt. Ltd. (NCLAT Delhi)
The case of Naman Infradevelopers Pvt. Ltd. vs Metcalfe Properties Pvt. Ltd. before the NCLAT Delhi revolves around whether advance payment made by a speculative buyer in real estate qualifies as a financial debt under the Insolvency & Bankruptcy Code (IBC) of 2016. The NCLAT’s ruling sheds light on the interpretation of financial debt under the IBC.
The appellant, Naman Infradevelopers Pvt. Ltd., made advance payments for residential plots in a PUDA-approved colony. However, the seller, M...
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