2023 (3) TMI 590

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ER Heard the Appellant Mr. Shyam Kishan Saraf appearing in person and Mr. G P Madaan appearing for the Resolution Professional. This appeal has been filed against the order 22.08.2022 passed by the Adjudicating Authority by which I.A. No. 4219/2021 in C.P. (IB)- 1397 (PB)/2019 filed by the Appellant has been disposed of giving opportunity to the appellant to submit documents before the Resolution Professional seeking the original status of allottees. Adjudicating Authority further directed the Resolution Professional to pass a reasoned decision and thereafter liberty to the Applicant to challenge the said decision. 2. The appellant's case in the appeal is that appellant's claims were verified by the Resolution Professional and subsequentl....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... disposed of the said application. It is useful to extract the following part of the order: "We have noticed from the charts prepared by RP that the allottees have been shown as allottees in the first instance and thereafter it has been modified as 'collateral, however, there is no reason given by the Resolution Professional as to why the nomenclature has been changed from allottees to collateral". Before we pass any reasoned order, in the interest of justice each one of these applicants will be given an opportunity to be heard by the Resolution Professional and also would be allowed to submit documents on or before 26.08.2022 stating reasons for seeking the original status of 'allottees'. After giving them the opportunity of ....