Dear Sir, as per the facts of the case, you are still an unsecured creditor and even if this nclt process works out you shall be the last as buyers to get relief out of it. However, you Should go to nclat for the process to be stalled.
Whether NCLT order can be challeged by buyer
Sir i have booked a property in greater noida during 2014 and paid 98% amount. the builder promised to hand over it by 2017 april, but upto december 2018, it could not hand over it , even ph-1 also he could not hand over we are in ph-2. we send a legal notice , but the builder did not reply. now i with another 69 buyers have filed a case at ncdrc for refund. but by this time another 5 buyers and 2 financers have filed a cases at nclt and irp appointed. we in hurry submitted our claim . but suddenly the builder has settlled with 2 financers and compromised out of court, irp process suspended . but the cases with other 5 parties were not finalised by nclt . however the buyers got some rera orders and rera was about to take control of the project, but today again irp appointed. in this situation all rera orders have been suspended, and buyers have no way. because if we submit the claim to irp and again irp process is suspended ,there will be no progress for buyers. one after another the same situation will b repeated. can we not file appeal to nclat for suspending nclt process?what is the way out, kindly advice.regards
Asked 7 years ago in Property Law
Religion: Hindu
9 Answers
1. why was the Interim resolution process suspended?
2. was there any stay granted by the HC against the IRP?
3. If IRP process has begun again then you can inform him that your claim was already submitted
4. also as per the Jaypee Infratech judgment of SC, the HC cannot grant a stay against NCLT proceedings, so I do not understand how the IRP got suspended in your case
See when IRP is appointed the only way out here shall be to submit the claim it is not possible predict that this time the IRP shall fail and same things will repeat so you can file your claim.
Dear Client,
IRP cannot be suspended like this but with approval of 90% of the committee of creditors. Once public announcement is done and claim submitted by creditors, IRP cannot be suspended, file appeal to NCLT agasint the suspension.
You with other buyers can file fresh application under I & B act.
After RERA coming into force, it was not a proper case to file before NCLT. All Real Estate dispute are now within the jurisdiction of RERA authorities. You can file an application to NCLT quoting the RERA provision Section 79 - Bar of jurisdiction of civil courts in this matter- to transfer the entire proceding to RERA authorities, or to move to High Court for the same.
SC has held both NCLT and NCLAT should remain at bay till corporate resolution proceedings are being conducted by the resolution professional and the Committee of Creditors (CoC) of the lender banks of a sick enterprise under the Insolvency and Bankruptcy Code (IBC).
2) SC has held role of adjudicating bodies -- NCLT and NCLAT -- come only after resolution plan is finalised,
3) you cannot file appeal before NCLAT to suspend proceedings before NCLT
You can file an appeal. But rera and NCLT procedure can work hand in hand simultaneously.
The orders can be appealed in NCLT and the same can also be challenged at Supreme court
Since you are not a party to the case pending before NCLT you cannot prefer an appeal against them in NCLAT.
Your application sill not be entertained on the basis of non-maintainability.
You may have to either implead yourself as a party to the ongoing proceedings before NCLT or pursue the NCDRC case
