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I read news that parasnath group is declared as bankrupt. I booked a flatt with them in year 2013 but not got possession till now. What I do? How I get my money back? Please suggest.

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I read news that parasnath group is declared as bankrupt. I booked a flatt with them in year 2013 but not got possession till now. What I do? How I get my money back? Please suggest.

Ans.  

You need to approach NCLT claiming your possession and amount invested with builder. You can file your claim in prescribed format. You will be eligible to get your money back when assets of company will be sold out to clear claimed debt amount. In the said petition, Interim Resolution professional is appointed which will take care of assets of company and will file report. If settlement not arrived, then tribunal may direct to initiate selling of assets to clear debt amount.

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