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NCLT Orders Homebuyer to Refund ₹1 Cr Recovered Under RERA, Restricts Claim to ₹68.25 Lakh Amidst Developer’s CIRP [Read Order]

In a recent ruling, the National Company Law Tribunal (NCLT) Allahabad Bench has directed a homebuyer to return ₹1 crore previously recovered through Uttar Pradesh Real Estate Regulatory Authority (UP RERA) proceedings after noting that the developer was undergoing Corporate Insolvency Resolution Process (CIRP). The Tribunal also restricted the admitted claim to ₹68.25 lakh. The…

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