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legal claims for Jaypee Insolvency NCLT Claim
11-Aug-2023 (In Property Law)
I have a flat in Jaypee noida not yet handed over. In view of insolvency what are my legal options and how to apply for NCLT claim
The NCLT will appoint an insolvency professional for the company to see if any debt reconstruction and is given 180 days to finalize a resolution, the main aim is to revival of the company by debt restructuring and if the creditor agree to an agreement of debt restructuring process the company is revived. However the board of directors are suspended for a period of 180 days. All the court cases of recovery of debt also remains suspended and vest with NCLT. If the resolution fails then company goes for liquidation. Home buyers should apply in the prescribe format Form F and give details of their investment they will be treated as unsecured creditors.
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You can claim you money back under the new arrangement Under Regulation 9A of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 . You can claim by giving the proof of claim by creditors your identification records and signing/ notarised affidavit.
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Adv. Sumit Chaudhary
Ghaziabad | 25+ Answers
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hi u can file ur claim in nclt at allahabad.i am doing such matters .plz contact for further details....
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Adv. Syed Fahim Ahmed
Allahabad | 25+ Answers
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