Q. Builder Issue

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posted 4 months ago

Q.Builder Issue
Dear Sir/Madam,
I bought an under construction apartment and the construction has been going on for a long time. Recently, an insolvency resolution process has been initiated.
Because of this IRP, my association has adviced us to fill 'Form CA- For claims by financial creditors in a class' and submit it to the Interim Resolution Professional. I need your opinion about submitting this form-ca. Can you please provide your suggestions on the following queries?
1. As my property is already registered, is it safe to submit the form-ca?
2. What are the chances of getting the claim in such cases?
3. If I submit the form-ca to interim resolution professional, and if the judgment is not in favor of our association, as per individual expectations, will my apartment registration become void? and do I have to compulsorily accept the compensation that is given to me, if any? or do I have the option to hold on my registration and the ownership of the apartment?
Please provide your valuable suggestions. Thank you.

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Kishan Dutt Kalaskar Retired Judge

Experience: 33 Year(s)

Responded 4 months ago

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A. ) Dear Sir,
To be in safer zone you must oblige and file necessary forms to get compensation etc.

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