Jaypee Kensington Boulevard ... vs Nbcc (India) Ltd on 24 March, 2021
9. Now, to answer the question as to whether a single homebuyer like the
present Appellant is competent to maintain such an application, we need to bear
in mind that it is well settled in IBC jurisprudence that the commercial decision
of the majority of homebuyers constituting a class is binding on the minority.
That minority homebuyers are required to abide by the decision of the majority
within the class is a well-acknowledged legal precept as laid down by the Hon'ble
Supreme Court in Jaypee Kensington Boulevard Apartments Welfare
Association v. NBCC (India) Ltd. 2022 1 SCC 401 which also squarely
governs the present case, the relevant excerpts of which is reproduced below: