In a recent ruling, the equitable treatment of homebuyers under the Insolvency and Bankruptcy Code (IBC), the National Company Law Appellate Tribunal (NCLAT), Principal Bench, New Delhi, has set aside the order of the Adjudicating Authority (NCLT) which had dismissed belated claims of several homebuyers in the Today Homes Noida Pvt. Ltd. insolvency proceedings.
The NCLAT, headed by Chairperson Justice Ashok Bhushan, delivered a composite judgment in a batch of appeals filed by multiple homebuyers, including Dr. Anubha Varun and others, challenging the NCLT’s order dated 22 January 2025 which dismissed their applications for acceptance of belated claims in the corporate insolvency resolution process (CIRP) of Today Homes…