2025 (6) TMI 32

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..../Supreet Singh Suri. Ms. Rajeev Basoiya, Adv. for R-9. Mr. Jayant Bhushan, Sr. Adv. with Mr. Ravi Shankar Nandan, Mr. Madhurima Sarangi, Mr. Tushar Bhushan & Mr. Karni Singh, Advs. for R-12 and R-13. Ms. Kanika Singhal, Ms. Vijeta Singh & Mr. Shivam Singh Rana, Advs. for IRP M/s. Three C Shelters Pvt. Ltd. Mr. Sacchin Puri, Sr. Adv with Mr. Harsit Sethi, Mr. Utkarsh Singh, Mr. Sunil Kumar, Mr. Vansh Sharma, Mr. Rubinder Ghumman, Ms. Rashmi Srivastava & Dr. Rakesh Kumar, Advs. for R-4. Ms. Jyoti Taneja and Mr. Prabhas Bajaj, Advs. for M S Orris Infrastructure Pvt. Ltd. ORDER PER REVIEW PET. 143/2025 (FOR REVIEW OF JUDGMENT DATED. 20.02.2025) 1. The applicant/petitioner has preferred this review petition under Section 114 read with Order X....

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....and considering the complexity of the factual narrative and interwoven set of legal proceedings involving several parties and decisions rendered by the Supreme Court, along with the fact that NCLT is now seized of the matter, the bottom line is that the petitioner and those who are similarly placed, i.e., the homebuyers, are yet to see the light at the end of the tunnel. Unhesitatingly, this Court finds no ground to recall the order dated 02.02.2024. The issues relating to the genuineness of the IRP report dated 09.08.2023, which has been espoused on behalf of the petitioner, respondent No. 11/Orris and respondent No. 4/Greenopolis Welfare Confederation on one side, and contested by applicants/respondents No. 12 and 13, along with responden....

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....IRP Report dated 09.08.2023 is in any manner a waste paper, useless or has no legal effect, or that the same can never be acted upon. 7. It is a matter of record that the IRP was appointed in terms of the directions of the National Company Law Tribunal ["NCLT"] vide order dated 14.12.2022, and further vide order dated 26.05.2023 it was directed to verify the claims of the secured and unsecured creditors of the respondent no. 3/Three C Shelters Pvt. Ltd. The impugned report dated 09.08.2023 by the IRP has been the subject of consideration in various proceedings leading up to the Supreme Court, this Court as well as the NCLT. 8. However, the issue as to whether or not any actions or inactions on the part of the IRP are within or outside the....