Execution of Conveyance deed - Home Buyers / Commerical property ...

Appellate authority upholds denial of Conveyance Deed execution; emphasizes CIRP's impact on homebuyers' rights and rent entitlements.

March 2, 2024

Case Laws Insolvency and Bankruptcy AT

Execution of Conveyance deed - Home Buyers / Commerical property - entitlement to receive the payment of rent as assured in the MoU entered with the allottees and the erstwhile management. - The Adjudicating Authority refused the appellant's prayer for the execution of a Conveyance Deed, stating that there was no specific prayer made in the application for this relief. Additionally, the Authority held that during the CIRP, the RP is responsible for managing the affairs of the Corporate Debtor, including decisions regarding the execution of contracts. The NCLAT also cited a previous judgment indicating that the rights of homebuyers cannot be adversely affected during CIRP, but the manner of protection depends on the RP's decisions.

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Execution of Conveyance deed - Home Buyers / Commerical property ...

Appellate authority upholds denial of Conveyance Deed execution; emphasizes CIRP's impact on homebuyers' rights and rent entitlements.

March 2, 2024

Case Laws Insolvency and Bankruptcy AT

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