Amount in Corpus Fund used for Maintenance of Apartments by Homebuyers not ‘Financial Debt’ under IBC: NCLT [Read Order]
Amount in Corpus Fund used for Maintenance of Apartments by Homebuyers not 'Financial Debt' under IBC, rules NCLT
By Kalyani B. Nair - On January 19, 2024 9:32 am - 2 mins read
The Hyderabad Bench of the National Company Law Tribunal (NCLT) ruled that the amount in corpus fund used for maintenance of apartments by homebuyers not ‘financial debt’ under the Insolvency and Bankruptcy Code, 2016 (IBC). The application was filed by the Vasathi Anandi Owners Welfare Association (“VAOWA”) (Financial Creditor/ FC Association) under Section 7 of…
Your free access to Taxscan has Expired
To read the article, get a premium account.
Taxscan Premium
Why should you subscribe?
Enjoy our website without interruptions from advertisements
Receive Daily newsletters
Receive realtime Telegram/Whatsapp news updates
Download original Judgements / Order / Notifications / Circulars, etc
