falling under this category are those who either do not have any registered agreements in the favour, or who have registered agreements which were executed after the flats allotted to them became illegal/unlawful under the revised sanctioned plans. These flat purchasers would be entitled to 25% of their admitted principal claim at the end of the term of the approved resolution plan. Alternatively, they may choose to purchase new flats from the resolution Applicants at prevailing market rates in which case they would be entitled to credit of 25% of their admitted principal amount. IV. It is reiterated that it was not the Respondent’s decision that the Applicants be entitled to only for 25% of the claim amount, but rather it is the business decision of the Resolution Applicants which has been approved by the CoC. It is not open to the Applicants to seek to challenge the commercial wisdom of CoC at this stage, especially when they themselves were the members of CoC. While the Applicants had paid Rs. 35,84,000/- towards the purchase of flat, their claim has been admitted to the extent of Rs. 50,18,093/- which includes interest in accordance with the provisions of IBC.
