Form CA

4 years ago

I own an under-construction apartment. It is registered on my name. When the builder field insolvency, we were asked to submit the Form CA by association. Some of us were not sure, so we did not submit the claim using Form CA. Now, the court has given time to settle the matter mutually. All the apartment owners are not in agreement with the builder's proposal. So, we are working with the IRP to get our apartments constructed. As we have declined the builder's proposal, mostly we will have to get assistance from the IRP for our apartments. My concern here is, I have not submitted the Form-CA. So, if the NCLAT decides to give the IRP authority to get the apartments constructed, will this judgment be applicable only to the people who submitted the form-ca? or all the flats will be considered for the construction? Please advise.

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Shreyash Mohta

Responded 4 years ago

A.Need to look into the documents.

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SAROJA PRUSTY

Responded 4 years ago

A.It's the responsibility of IRP to determine the position of liability from the Books of Account of Corporate Debtor. To your query, If IRP got such order from NCLT, then he must have the data as regards to who are the prospective buyer to the projects. There is nothing harm in submitting Form- CA. If you have not filed the Form- CA, submit it with the IRP. If rejected, then file an application U/s- 60(5) of IBC, 2016 before the same NCLT where the Builder filed S-10 application(insolvency) seeking a direction to IRP to include your claim.

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Rameshwar Dadhe

Responded 4 years ago

A.Without looking documents not sure

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