NCLT insolvency petition against a builder

Overview

When the builder is in financial trouble and cannot finish the project, home buyers can start insolvency proceedings against it at the National Company Law Tribunal as financial creditors.

What's included

Check of the builder's finances and the buyers' threshold
Legal notice to the builder
Petition under Section 7 of the Insolvency Code
Appearances before the NCLT until admission
Help filing your claim with the resolution professional
Status updates in your account and by email

Steps involved in NCLT insolvency petition against a builder

1

Share documents

Upload the agreement, allotment letter and payment receipts.
2

Assess the case

The lawyer checks the default and whether enough buyers join the petition.
3

Legal notice

A final notice is sent to the builder.
4

File the petition

The insolvency petition is drafted and filed before the NCLT bench.
5

Hearings and admission

Your lawyer argues for admission; after it, your claim is filed with the resolution professional.

Documents required

Application form for the flat
Builder-buyer agreement
Allotment letter
Receipts or bank proof of all payments
Emails and letters with the builder
Project brochure

Things to know

The NCLT filing fee is separate.

The LawConnect assurance

Verified advocates

Bar Council enrolment checked by LawConnect.

Private and confidential

Your matter is seen only by your advocate.

Free cancellation

Within 2 hours of booking.

Upfront fees

Government fees listed separately.

Payment structure

100%

Professional fee, paid at booking

100% at booking · NCLT filing fee separate

Government, court and stamp fees

The NCLT filing fee is separate.

Customer reviews

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Frequently asked questions

Since 2020, a petition needs at least 100 allottees or 10% of the allottees of the same project, whichever is lower. We help you join or form a group.

RERA suits a working builder that is late. NCLT suits a builder that cannot pay its debts. Your lawyer will advise which fits your case.

A resolution professional takes control of the company and invites claims. Buyers vote in the committee of creditors on a plan to complete the project or repay.

The timeline is shown under "Things to know". It starts once we have all the details and papers we need.

A Bar Council verified advocate who practises in this area. You can also choose an advocate from their profile before booking.

Yes. Your matter and documents are visible only to you, your advocate and support staff when you ask for help.

Yes, from My Bookings. It is free within 2 hours of booking; after that a cancellation fee may apply.

No. The price is the professional fee only. Any government, stamp duty or court fees are paid separately.

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