Tag Archives: Financial Creditor judgment

No Insolvency on Non payment of assured Return by Builder till delivery of Flat as it is not Financial debt

By | March 4, 2017

Issue According to the terms of Memorandum of Understanding, the Respondents were required to build and deliver possession of the unit within two years from the date of execution of the MOU. The Memorandum of Understanding, however, stipulated payment of Rs.82,214/- per month as its “Assured Returns” with effect from 30.10.2012 till the possession of… Read More »