Adjudicating Authority's Order Set Aside, Application Revived for Merits Review. Resolution Professional's Role Clarified.

The Tribunal set aside the Adjudicating Authority's order and revived the application to be heard and decided on its merits by the Adjudicating Authority. The Resolution Professional's role was deemed administrative, lacking adjudicatory jurisdiction. The Tribunal emphasized the need for the Adjudicating Authority to address pending applications before finalizing the resolution plan approval.

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Issues Involved:
1. Disposal of application by Adjudicating Authority without deciding on merits.
2. Role and jurisdiction of Resolution Professional in deciding claims.
3. Pending approval of resolution plan before Adjudicating Authority.

Summary:

Issue 1:
The appeal was filed against an order passed by the Adjudicating Authority directing the Appellant to submit documents before the Resolution Professional regarding the status of allottees. The Appellant's claims were initially verified as allottees but later changed to collateral, prompting the filing of the appeal with specific prayers related to their status and rights under the Insolvency and Bankruptcy Code, 2016. The Adjudicating Authority, in its order, allowed the Appellant to challenge the Resolution Professional's decision after providing an opportunity to be heard.

Issue 2:
The Appellant argued that the Adjudicating Authority should have decided the application on its merits instead of directing them to approach the Resolution Professional, emphasizing that the Resolution Professional lacks adjudicatory jurisdiction. The Tribunal agreed, stating that the Resolution Professional's role is administrative in nature to verify claims as per the CIRP Regulations, 2016. The Tribunal set aside the Adjudicating Authority's order and revived the application to be heard and decided on its merits by the Adjudicating Authority.

Issue 3:
The Appellant also mentioned that the approval of the resolution plan is pending before the Adjudicating Authority, urging that the pending applications should be decided before the resolution plan approval. The Tribunal disposed of the appeal accordingly, emphasizing the need for the Adjudicating Authority to address the pending applications before finalizing the resolution plan approval.

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