NCLT Rejects belated claim of Homebuyer

The National Company Law Tribunal (NCLT), Chandigarh Bench, by its order dated 11 June 2026, dismissed an application seeking admission of a homebuyer's claim as a financial debt in the Corporate Insolvency Resolution Process (CIRP) of Samar Estates Pvt. Ltd. 

The Tribunal held that the applicants had ceased to be allottees after cancellation of their allotment due to contractual default and, consequently, could not be treated as financial creditors under Section 5(8)(f) of the Insolvency and Bankruptcy Code, 2016. 

It further ruled that the Resolution Professional (RP) was justified in rejecting the claim as it was filed after the Committee of Creditors (CoC) had approved the resolution plan.