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Q.Builder VS Bank IRP
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Q. Builder VS Bank IRP

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Anonymous

posted 2 months ago

I bought an under construction apartment and the construction has been going on for a long time. I have not got the possession yet. Recently, an insolvency resolution process has been initiated between ICICI and the builder. 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. If I participate in this process, will my flat registration becomes void?
Also, there was an initial hearing yesterday in which the tribunal has postponed the next hearing to July 12th as it is hopeful that both parties (ICICI and builder) are hopeful of settling the issue mutually.
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A. Dear Sir,
It is better to fill Form CA

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Categories
Administrative Law (483)
Admiralty and Mariti... (2)
Adoption (140)
Advertising (59)
Animal Laws (42)
Arbitration and Medi... (52)
Aviation (16)
Banking (632)
Bankruptcy and Debt (209)
Cheque Bounce (440)
Child Custody (174)
Civil (2244)
Commercial (96)
Consumer Protection (598)
Contracts and Agreem... (509)
Corporate and Incorp... (124)
Criminal (1761)
Customs, Excise (47)
Cyber, Internet, Inf... (363)
Debt and Lending Agr... (82)
Debt Collection (182)
Divorce (751)
Divorce and Separati... (1602)
Documentation (326)
Domestic Violence (683)
Election Campaign an... (23)
Employment and Labou... (1249)
Environment and Natu... (32)
Equipment Finance an... (3)
Family (2122)
Financial Markets an... (101)
Government Contracts (57)
Human Rights (289)
Immigration (56)
Industrial Laws (68)
Insurance (84)
Intellectual Propert... (118)
International Laws (14)
IT Contracts (54)
Juvenile (23)
Landlord and Tenant (669)
Licensing (21)
Mail Fraud (21)
Maternity (63)
Media, Communication... (18)
Mergers and Acquisit... (23)
Military Laws (18)
Motor Accident (148)
Muslim Laws (73)
Outsourcing Agreemen... (5)
Partnership (64)
Police Laws (64)
Power of Attorney (75)
Privacy (97)
Property (3156)
Real Estate (460)
Registration (151)
RTI (112)
Sale (62)
Sale of Goods (20)
Sex Crime (161)
Sexual Harassment (6)
Sexual Harassment at... (75)
Software License (4)
Tax (22)
Tax-GST (14)
Tax-Income Tax (30)
Tax-Property Tax (36)
Telecommunication (13)
Torts (22)
Transportation (67)
Trust and Society (N... (89)
Will (144)
Work Permits (33)
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