NCLT Chandigarh dismissed an application by homebuyers seeking ₹60 lakh refund from insolvent Samar Estates.
Tribunal ruled payments made to directors' personal accounts don't constitute financial debt under IBC.
Applicants failed to provide proof of disbursement to corporate debtor's account or valid allotment documents.
RP justified claim rejection due to missing builder-buyer agreements and payment receipts to company account.