Atul Kumar Kansal vs Crown Abacus Park Association

IN THE MATTER OF: Atul Kumar Kansal Resolution Professional, Crown Realtech Pvt. Ltd. ...Appellant Vs. Crown Abacus IT Park Association ...Respondent

Present: For Appellant: Mr. RK Gupta, Mr. Swarlipi Deb Roy, Advocates Mr. Atul Kumar Kansal, RP Party in person For Respondent: Mr. Anjaneya Mishra, Advocate

ORDER

(Through Virtual Mode) 25.08.2021: Heard Ld. Counsel for the Appellant, he submits that RP filed

I.A. No. 5687 of 2020 on 12.12.2020 under Section 30(6) of the IBC seeking

approval of the Resolution Plan before the Adjudicating Authority. The matter

has been listed on various dates but no effective hearing has taken place since

then. The Corporate Debtor is a Real Estate Company and Developing a

Commercial IT Park Project, Faridabad, Haryana, the license to develop the

project was obtained in the year 2008, however, after lapse of 12 years the project

has not been completed and units have not been handed over to the allottees.

Due to inordinate delay in approval of the Resolution Plan the costs of

construction is increasing day by day, therefore, they have filed this Appeal for

seeking direction to the Ld. Adjudicating Authority to dispose of the Application

I.A. No. 5687 of 2020 at the earliest.

Company Appeal (AT) (Ins) No. 620 of 2021 2

2. Ld. Counsel appearing for the Respondent (Successful Resolution

Applicant) supports the argument advanced on behalf of the Appellant.

3. After hearing Ld. Counsels for the parties, we have gone through the

record. We find that the Appeal under Section 61(1) of the IBC is not

maintainable as Appellant is not aggrieved by any of the order of the Adjudicating

Authority. However, the Appellant is aggrieved by huge delay in disposal of

Application under Section 30 (6) of the IBC by the Adjudicating Authority. We

deem it appropriate to dispose of this Appeal with the request to the Adjudicating

Authority that make all endeavour to decide the Application I.A. No. 5687 of 2020

within 30 days.

4. Thus, the Appeal is disposed of and pending I.A.s, if any, are also disposed

of.

5. The Registry is directed to communicate this order to the concerned

Adjudicating Authority forthwith.

[Justice Jarat Kumar Jain] Member (Judicial)

[Dr. Ashok Kumar Mishra] Member (Technical)

Sc/md

Company Appeal (AT) (Ins) No. 620 of 2021