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Amount of consideration paid to builder who failed to handover physical possession was financial debt

December 24, 2019[2020] 113 546 (NCLT - New Delhi)

IBC: Where corporate debtor failed to handover physical possession of flat to allottees within agreed period, amount of consideration paid by allottees was financial debt in terms of revised definition under section 5(8)(f) and application filed under section 7 by allottee-financial creditors for default committed by corporate debtor in repayment of financial debt was to be admitted

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