LUCKNOW, Dec. 5 -- From January 2024 till date, 14 developers covering 129 real estate projects were admitted into the Corporate Insolvency Resolution Process (CIRP) before the National Company Law Tribunal (NCLT). Now, homebuyers stuck in these projects will have to file their claims through their respective Insolvency Resolution Professionals (IRPs) appointed for each project. As these projects now fall under the exclusive jurisdiction of the NCLT, homebuyers will have to file their claims only through their respective IRPs, said UP RERA. It clarified that once a project is admitted into CIRP, a moratorium under Section 14 of the Insolvency and Bankruptcy Code (IBC) becomes applicable. This moratorium suspends all legal, regulatory, and recovery proceedings, due to which the RERA cannot take up or continue complaints, enforcement orders, or hearings related to these projects until the moratorium is lifted, said the regulatory authority. The authority said that allottees' rights and grievances must now be placed before the IRP concerned in accordance with the IBC procedures. The authority has urged affected homebuyers to submit their claims with the IRPs through the claim forms made available under the Insolvency and Bankruptcy Board and NCLT guidelines.htc...