 "IBC, Insolvency and Bankruptcy Code")
Saranga Anilkumar Aggarwal, proprietor of East & West Builders, had sold flats to various purchasers but defaulted in handing over possession. Alleging a deficiency in service and breach of contractual obligations, the buyers filed complaints against him before the National Consumer Commission, which directed the builder to complete construction, obtain the requisite occupancy certificate, and hand over possession. As Aggarwal failed to comply with these directions, the flat purchasers filed execution applications and initiated penal proceedings for non-compliance with the orders.
Aggarwal opposed the penal proceedings, offering various excuses to justify his failure to comply with the orders. His principal
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