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IBC will override RERA if time line for completion of project as per contract not followed

August 29, 2019[2019] 108 517 (NCLT - New Delhi)

IBC: Where corporate debtor (real estate developer) was required to deliver possession of respective units latest by 2016-17 but despite having received almost 90 per cent of purchase value of flats corporate debtor had not handed possession of said unit, corporate debtor could not take a plea that it had been granted time till 2021 to complete project in terms of RERA as provisions of IBC being later statute will override RERA and petition filed u/s 7 was to be admitted

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