2021 (12) TMI 849

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....ed by Impugned Order dated 16.1.2020 passed by the Adjudicating Authority (National Company Law Tribunal, New Delhi) in CA-70/2019 & CA-71(PB)/2019 in (IB)77/ALD/2017 under section of 61 of Insolvency and Bankruptcy Code, 2016 (in short "IBC"). 2. The Appellant has stated that he is a senior citizen, long retired, and that he had put in his hard earned money in booking of a flat in the project of Jaypee Infratech Ltd.. After paying the full cost of the flat that is still incomplete, he is seeking refund of the amount deposited with Jaypee Infratech Ltd. His application was declined by the Impugned Order on the ground that there is no recourse under law to refund the claimed amount during the CIRP period, and also that if such a payment is ....

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.... 3395 of 2020 titled as Jaypee Kensington Boulevard Apartments Welfare Association & Ors. Vs. NBCC (India) Ltd. & Ors. reported in 2021 (5) SCALE 142, nothing more is required is to be in this petition and the same is disposed of. Pending applications, if any, stand disposed of." 6. In written submissions submitted by the Appellant, he has claimed that the cut off date for claiming refund is 9.8.2017 as per order dated 24.3.2021 of Hon'ble Supreme Court in Civil Appeal No. 3395 of 2020. He has also claimed that his claim for refund was submitted to the Interim Resolution Professional before 9.8.2017 and therefore, he is eligible to get full refund. He has also attached statement of accounts as on 9.8.2018 maintained by the CD, wherein ....

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....ned Order and the appeal may be dismissed. 10. The CIRP of Jaypee Infratech Ltd. (Corporate Debtor) was going on when the Appellant submitted his request for refund. According to the provisions of IBC, the claim of the Appellant shall be settled in accordance with relevant provision in the approved Resolution Plan of the Corporate Debtor. 11. A perusal of the Impugned Order makes it clear that it was passed by the Adjudicating Authority during the currency of the CIRP and the prayer of Appellant for full refund, while the CIRP was going on, was declined. In view of the disposal of T.P. (Civil) No. 1058 of 2020 and also the fact that now the Resolution Plan of the Jaypee Infratech Limited approved by the Committee of Creditors is pending a....