Interim Resolution Professional replacement for pending conveyance and home buyer claim verification where the existing appointee was unavailable

A new Interim Resolution Professional was appointed to complete the remaining conveyance deed execution and verification of pending home buyer claims, because the existing professional was unavailable for an extended period and could not meet the Court's earlier time-bound directions on registration of the apartments. The Court noted that verification of 71 home buyer claims was still incomplete, making replacement necessary to finish the remaining exercise on behalf of the project company. The new appointee was directed to receive the same remuneration as the earlier professionals.

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Issues: Whether a new Interim Resolution Professional should be appointed for completion of the remaining exercise relating to execution of the conveyance deed and verification of pending home buyer claims, in view of the earlier appointee proceeding on leave.

Analysis: The existing Interim Resolution Professional was unavailable till at least the end of July 2026, which impeded compliance with the Court's earlier time-bound directions concerning registration of the apartments in consultation with the home buyers. Since claims of 71 home buyers were still pending verification, a replacement was necessary to complete the remaining exercise on behalf of the project company.

Conclusion: A new Interim Resolution Professional was appointed to complete the remaining conveyance and verification exercise, and was directed to receive the same remuneration as the earlier professionals.

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