2019 (7) TMI 117

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....IEF TARIQ, MEMBER (JUDICIAL) For The Applicant : Ms. Jayanti K. Shah, Counsel For The Respondent : Ms. Rupa J. Tharayil, Counsel ORDER 1. Under consideration is MA/626/2018 filed in CP/200/IB/2017 by one of the creditors with the prayer as follows: i.  Set aside the order dated 10.10.2018 passed by the Respondent herein refusing to place on par with Financial Creditor ii.  Direc....

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....ed by Corporate Debtor, viz., M/s LCS City Makers Pvt. Ltd, and was admitted on 20.04.2018 by this adjudication authority, moratorium was declared and the Respondent herein was appointed as the IRP. Subsequently, on 08.08.2018 this Adjudicating Authority appointed the Respondent as Liquidator of the Corporate Debtor to carry out the process of Liquidation. 4. On 13.08.2018, the Respondent under S....

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....ce which was brought into force on 06.06.2018 has recognised the home buyers as financial creditors with prospective effect, whereas the CIRP against the company under liquidation was initiated on 20.04.2018. 6. Counsel for the Applicant has contended that the Corporate Debtor viz. M/s City Makers Pvt. Ltd abruptly abandoned the said project and failed to hand over the Flat as assured upon vide D....

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....tate project" shall have the meanings respectively assigned to them in clauses (d) and (zn) of Section 2 of the Real Estate (Regulation and Development) Act 2016 7. Counsel for the Applicant has submitted that the applicant would be put to irreparable prejudice and hardship if this Tribunal does not set aside the order dated 10.10.2018 passed by the Respondent. 8. As per the provisions of Sectio....