IRP is not considering the Claimed Amount as per Form CA submitted to IRP
3 weeks ago
My Builder case is under Delhi NCLT, NCLT appointed IRP on the Builder and 1 specific project is under the resolution process and other Builder's projects are under the supervision of IRP. My project is under IRP supervision. While the appointment of IRP I have already submitted Form CA to establish my claim as I have already RERA Order and RC. My simple ask is to adjust the delay penalty charges as per RERA court or as per NCLT Form CA from my balance payment to take possession of my flat. But IRP is not listening to anything and only as per BBA Rs5/square feet penalty is given.
while I approached IRP they gave the reference Supreme Court order of 'Bharti Aitel v Vijaykumar Iyer-no set off during CIRP".
Please let me know how can i proceed to get the reasonable delay penalty from IRP if possible. My project is 10 years old and no OC CC received and the registry is pending. Please help
Under the Insolvency and Bankruptcy Code (IBC) of India, the Insolvency and Bankruptcy Board holds regulatory authority over insolvency professionals, insolvency professional agencies, and information utilities. Section 217 of the IBC allows any aggrieved individual to file a complaint against these entities with the Board. Furthermore, Section 218(1) empowers the Board to order investigations into any alleged contraventions of the Code or its regulations by these entities. Therefore, individuals can escalate their grievances or complaints to the Insolvency and Bankruptcy Board of India to seek suitable redressal.
The Insolvency and Bankruptcy Board of India has regulatory power over the service providers, namely, insolvency professionals, insolvency professional agencies and information utilities. It also writes and enforces rules for transactions, namely, corporate insolvency resolution, corporate liquidation, individual insolvency resolution and individual bankruptcy under the Code. As per Section 217 of IBC, 2016, any person aggrieved by the functioning of an insolvency professional agency or insolvency professional or an information utility may file a complaint to the Board in such form, within such time and in such manner as may be specified. According to Section 218 (1) of the Code, where the Board, on receipt of a complaint under section 217 or has reasonable grounds to believe that any insolvency professional agency or insolvency professional or an information utility has contravened any of the provisions of the Code or the rules or regulations made or directions issued by the Board thereunder, it may, at any time by an order in writing, directing any person or persons to act as an investigating authority to conduct an inspection or investigation of the insolvency professional agency or insolvency professional or an information utility. In view of the aforesaid provisions of the IBC, you can escalate your grievance or complaint before the Insolvency and Bankruptcy Board of India seeking appropriate relief in the matter. Reach out to an Advocate dealing NCLT cases for guidance and steps.
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