Verified Homebuyer Claim Cannot Be Treated as ‘Belated’ Under Resolution Plan Merely Due to Timing, Entitled to Possession: Supreme Court

The Supreme Court of India, in a significant ruling under the Insolvency and Bankruptcy Code, 2016 (IBC), has held that once a homebuyer’s claim is verified and admitted by the Resolution Professional and included in the list of creditors, it cannot be treated as a ‘belated claim’ subject to reduced benefits under a resolution plan.

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