Live Help
Want to know more
Enter the details and we'll call you soon

Name :

Company Name :

City :

Mobile No. :

Email id :

  

Thank you for your details



Our Executive will reach you shortly.

Your Session Will Expire in   seconds.
If you do not wish to log-out, choose 'Let me continue'
Reset SessionCancel Session
 

Amount raised from allottee under real estate project is covered by definition of financial debt under IBC

March 1, 2019[2019] 102 taxmann.com 395 (NCLT - New Delhi)
135 Views

CL : In terms of Explanation to section 5(8)(f) introduced with effect from 6-6-2018, any amount raised from an allottee under a real estate project is deemed to be an amount having commercial effect of borrowing covered by definition of 'Financial debt' and, therefore home buyers can initiate Corporate Insolvency Resolution Process against defaulting builder or developer, as 'Financial creditor' in terms of Explanation to section 5(8)(f)

read more

taxmann.com
Payment
Best view in 1140 x 768