05/03/2026
If homebuyers do not file a claim with the Interim Resolution Professional (IRP) within the stipulated timeframe during a Corporate Insolvency Resolution Process (CIRP), they risk having their claims ignored, extinguished, or severely delayed. While the IRP may sometimes rely on the company's records to include homebuyer data, relying on this process is risky. [1, 2, 3]
Here are the specific consequences and details regarding this situation:
* Risk of Extinguishment: Once a resolution plan is approved by the National Company Law Tribunal (NCLT)
, any claims not submitted or included in the plan are generally extinguished
* Difficulty in Registration: Homebuyers who do not file claims may encounter significant difficulties in getting their flats registered, even if they have paid the full amount.
* Loss of Creditor Status: Failing to file means a homebuyer may not be included in the Committee of Creditors (CoC), losing their say in the insolvency process.
* Reliance on Company Records: In some cases, the IRP may verify claims based on the builder's records if the homebuyer fails to submit the form, but this is not guaranteed.
* Late Filing Options: While there is a deadline, creditors can sometimes submit proof of claim to the IRP or Resolution Professional (RP) until the approval of a resolution plan by the Committee of Creditors.
* Judicial Relief: In certain instances, such as in the Jaypee Infratech case, the Supreme Court has provided relief, allowing homebuyers who missed the deadline to approach the new management (e.g., Suraksha Realty) for possession or refunds. [1, 2, 3, 4, 5, 6, 7]
Recommendations:It is essential for home buyers to file their claims (Form CA or Form F) within the specified deadline, as the IRP is not bound to accept late claims. [2, 8]
if any buyer chooses to ignore filing of Claim, he/she would be rendering disservice not only to him/herself but to the cause of other buyers as well. Naveen’s jugular is held tight now with no squirming space either available to him.
Dear co-buyers, please file your respective claim stra away. No delay, please 🙏 🙏 🙏 !
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