2018 (5) TMI 1777

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....Member (J) Shri M. B Gosavi ORDER Ld. Resolution Professional along with his Counsel as well as Ld. Counsel for the applicant of CA (1B) No. 405/KB/2018, Shree Ram Residency Pvt. Ltd. and Edelweiss Asset Reconstruction Co. Ltd. is present. CA(IB) No. 405/KB/2018 filed by Resolution Applicant, who is ranked as H-2, praying for stay of rank of H-1 applicant in the meeting held on 26/04/2018....

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....rs (COC). In consideration of the said prayer on the side of the Resolution Applicant in the C.A., we are inclined to issue directions to have a reconsideration of modified offer, if any, submitted by the Resolution Applicant in the application. At this juncture Ld. Counsel appearing for the H-1 applicant strongly objected issuing such a directions to the RP. According to him such a direction, if ....

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....er in the nature of this case. In the said circumstances it appears to us that directions to the Resolution Professional is to be issued in order to avoid further interruption in the CIRP. Accordingly, we are issuing the following directions :- (1) The RP is directed to receive modified offer to be submitted by the applicant in this application on or before 09/05/2018 in a sealed cover (i....