News: Three C Shelters insolvency: Buyer can file their claims within four weeks-22-07-2023
The National Company Law Appellate Tribunal (NCLAT) has given a final chance to the allottees of Orris Greenopolis project in Sector 89 to file their claims to become part of creditors within four weeks, following the insolvency proceedings against Three C Shelters, one of the promoters of the housing project
The corporate insolvency resolution process (CIRP) of Three C Shelters Pvt Ltd of the Three C group of companies had started on October 16, 2020
Acting on the bona fide application filed by the homebuyers associations — Greenopolis Welfare Association and GWC — the National Company Law Tribunal (NCLT) had passed an order on May 26 this year, asking the IRP to verify all the claims received in this CIRP again as there were dubious or fraudulent claims which had infiltrated the committee of the genuine creditors.
Further, NCLAT bench chaired by Justice Ashok Bhushan on July 19 further stamped the May 26 order passed by NCLT and further insisted that the order for the reverification of claims is just and the verification of claims should be carried out and the report should be submitted within four weeks.
The Interim Resolution Professional (IRP) of 3C Shelters Promoters for Greenopolis project, Pradeep Kumar Kaushik, said so far around 750 claims have been submitted, of which 350 have been physically verified.
“There is no need for these 350 verified claims to be filed again, but other allottees can file the claim,” he said.
In Sector 89, Orris Developers was issued a licence by the Town and Country Planning Department (DTCP) to develop a group housing township in about 37 acres in collaboration with Three C Shelters Pvt Ltd— who had to construct the project.“A total of 1,810 flats were to be constructed, but Three C company did not construct the flats, instead allegedly siphoned off about Rs 612 crore collected from the allottees and transferred them to other companies” said an official.
