#liquidation value

NCLAT rules that under RERA, secured creditors' claims in corporate insolvency resolution processes (CIRP) are restricted to unsold units only, prioritizing homebuyers' rights. NOIDA's statutory dues are recognized as secured claims under registered lease deeds, impacting real estate insolvency proceedings.

NCLAT reinforces that dissenting financial creditors under Section 30(2)(b) of the IBC must receive at least the liquidation value approved by the Committee of Creditors (CoC). The ruling underscores the statutory minimum payout floor, ensuring dissenters are not shortchanged in resolution plans, even if the CoC's commercial wisdom prevails.