2022 (12) TMI 729

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....r. Adhish Sharma and Mr. Nitin Pandey , Advocates for R - 2. ORDER Heard learned counsel for the Appellant. This Appeal has been filed against the order dated 26.09.2022 passed by the Adjudicating Authority (National Company Law Tribunal), Principal Bench, by which order the application filed by 68 home buyers being I.A. No. 2065/2020 has been rejected. In I.A. No. 2065/2020 following prayers were made by the Appellants: "a. Pass an order for replacement of Mr. Rabindra Kumar Mintri, having registration no. IBBI/IPA- 001/IP - P00707/2017 - 18/11194 as the resolution professional in the Corporate Insolvency Resolution Process of the Corporate Debtor with Mr. Sanjeet Kumar Sharma, having registration no. IBBI/ IPA-001/IPP01132/....

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....challenged the Resolution Plan in the aforesaid matter. It is submitted that the objections filed by the Appellants are sustainable and ought to have been considered by the Adjudicating Authority. Learned counsel for the Appellants submits that the Authorized Representative who is said to have voted has not obtained instructions and approval of the home buyers with regard to different items of the Agenda. It is submitted that in the 6th CoC meeting several items were deferred without obtaining any opinion of the home buyers which has vitiated the entire process. Learned counsel for the Appellant further submits that with regard to feasibility and viability of the Resolution Plan no opinion was obtained from the CoC and although there was a ....