In Brief

Home buyers of a housing project sought refunds from the developer after the project was abandoned. The NCDRC awarded refund orders with interest. When execution proceedings followed, the developer filed for corporate insolvency, triggering moratorium protections. The Court clarified that the IBC moratorium applies only to the corporate debtor, not its promoters or directors. Home buyers may therefore pursue remedies against the promoters personally. The Court directed expedited approval of a home buyer-backed Resolution Plan and permitted buyers to challenge the plan before the NCLT if desired.

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