The National Company Law Tribunal (NCLT) has dismissed an application filed by homebuyers Ashok Gupta and family, who sought a recalculation of their claims in the insolvency proceedings of Samar Estates Pvt. Ltd.
The tribunal upheld the Resolution Professional’s methodology, ruling that refunds of ₹40 lakh received before the Corporate Insolvency Resolution Process (CIRP) must be treated as reducing the principal, not interest, and rejected demands for delay possession charges.
The applicants, Ashok Gupta and family, had invested ₹42.89 lakh in Unit P‑603 of Ess Vee Apartments since 2006. Pursuant to a Permanent Lok Adalat order in 2017, they received a refund of ₹40 lakh between August 2019 and…