Your project is in CIRP: what happens to your booking, your money and your possession

When a developer is admitted into the corporate insolvency resolution process, the ground shifts under every buyer in the project at once. Proceedings stop, a stranger takes over management, and the questions change from possession to claims.

The moratorium

On admission, a moratorium prohibits the institution or continuation of proceedings against the corporate debtor. In practice this means a pending RERA complaint or execution stalls. It is a pause imposed by statute, not a decision on the merits of your claim.

Where your claim goes instead

1. Watch for the public announcement, which fixes the last date for claims.
2. File your claim with the interim resolution professional in the prescribed form for allottees, with the agreement, payment proofs and any order in your favour.
3. Verify that the claim is admitted at the correct amount, and raise it immediately if it is not.
4. Allottees are represented in the committee of creditors through an authorised representative — engage with that representative, because that is where your vote is exercised.

What outcomes look like

• A resolution plan under which a new developer completes the project — usually the best available result for a buyer who wants the home.
• A plan offering a monetary settlement, which may be a fraction of the amount paid.
• Liquidation, where recovery depends on the waterfall and is typically poor for allottees.

A refund order you cannot enforce is worth less than a completed flat you eventually receive.

Buyers who organise early, file correctly and vote as a bloc consistently do better than those who wait for the process to reach them.