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2020 (5) TMI 35 - Tri - Insolvency and BankruptcyCIRP proceedings - Entertainment of Lodging of the claim of the Home Buyers - Resolution Professional (RP) rejected the claim - production of additional documents - HELD THAT:- The documents bearing 1004/2014 in relation to the property is registered with sub-registrar Office, Thiruvallur, which is sought to be relied upon for the purpose of conveyance of undivided share of land as prescribed in the Schedule of property in the said registered documents. In addition, Memorandum of Agreement as entered into between the parties dated 25-3-2014 is also sought to be relied on by the Applicants to establish that the monies which are figuring in the respective Sale Agreements or Memorandum of Agreements have been duly paid to the Corporate Debtor, and in the said circumstance, the Claim cannot be rejected and that all the payments which are also extracted hereinabove by way of tabulation in Para supra are in relation to the purchase of properties, and hence, it is appropriate that the Applicant should be categorised as 'Home Buyer' and that the Resolution Professional was wrong in not entertaining the Claim as filed under Form CA meant for the Home Buyers. Hon'ble Supreme Court in the case of PIONEER URBAN LAND AND INFRASTRUCTURE LIMITED & ANOTHER VERSUS UNION OF INDIA & OTHERS [2019 (8) TMI 532 - SUPREME COURT] has held that a speculative Home Buyer is not entitled to come as a Financial Creditor under the category as defined under section 5 (8) (f) of the I&B Code, 2016 as a Home Buyer - The fact that the three Sale Agreements along with the Memorandum of Agreements which are being touted by the Applicant clearly shows that the transactions, if at all are to be considered as being speculative and the transaction cannot considered as genuine made from the stand point of a Home Buyer so as to come for the claim to be lodged in Form CA. The lodging of the claim with the Resolution Professional being a stale claim and trying to enforce before the Adjudicating Authority upon its rejection cannot be countenanced - Application dismissed.
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