Greenopolis Welfare Association vs Pradeep Kumar Kaushik Interim ...

Greenopolis Welfare Association ...Appellant

Versus

Pradeep Kumar Kaushik Interim Resolution Professional Three C Shelters Pvt. Ltd. & Ors. ...Respondents

Present: For Appellant: Mr. Sumesh Dhawan, Ms. Pooja Mahajan, Mr. Savar Mahajan, Mr. Karan Vir Khosla and Mr. Shaurya, Advocates. For Respondents: Mr. Gaurav Mitra, Mr. Ishan Choudhary, Mr. Shaswati Parhi and Ms. Vijea Singh, Advocates for R-1. Mr. Manindar Singh, Sr. Advocate with Ms. Jyoti Taneja and Mr. Prabhas Bajaj, Advocates. Mr. Ramji Srinivasan, Sr. Advocate for GWC. Mr. R. V. Prabhat, Mr. Daksh Pandit and Mr. Vinay Yadav, Advocates. Ms. Aishwarya, Advocate for Ex. RP.

ORDER

19.07.2023: This Appeal has been filed by Greenopolis Welfare

Association challenging the order dated 26.05.2023. It is submitted that the

CIRP was commenced on 16.10.2020/20.10.2020 and here had been series of

verification.

2. Shri Sumesh Dhawan, learned counsel for the Appellant submitted that

four meetings of CoC were held earlier but thereafter no CoC meeting was held -2-

and when application was filed by the Appellant seeking direction to hold CoC

meeting, another application was filed by another Homebuyer Association -

Greenopolis Welfare Confederation, where direction has been issued on

26.05.2023 for verification of all claims within 7 weeks. It is submitted that

although period of 7 weeks is over but verification has not been completed.

3. Shri Gaurav Mitra, learned counsel for the Resolution Professional

submits that process of verification is on-going and is likely to be completed

within two weeks and thereafter verification report shall be submitted to the

Adjudicating Authority, as directed.

4. We have perused the order passed by the Adjudicating Authority. The

order passed by the Adjudicating Authority is only for verification of the

claims. We make it clear that under the order there is no occasion for receiving

any fresh claims of the homebuyers by the Resolution Professional, unless

permitted by the Adjudicating Authority.

5. It is further submitted by learned counsel for the IRP that the claims are

only received electronically. He has not asked the homebuyers to appear in

person, however, some homebuyers are also coming physically and submitting

their documents. The counsel for the Appellant submits that verification of

several claims were made by the earlier IRP and those claims were submitted.

It is open for the homebuyers who have submitted their claims earlier to

resubmit their claims to the present IRP to complete the verification.

Company Appeal (AT) (Insolvency) No.876 & 877 of 2023 -3-

6. The period which was allowed by the Adjudicating Authority is already

over. We are of the view that IRP to complete the process of verification within

4 weeks from today and submit report to the Adjudicating Authority and

further steps may be taken including convening meeting of the CoC to

complete the CIRP process.

7. We may also notice that earlier an appeal was filed by the Greenopolis

Welfare Confederation challenging the impugned order in Company Appeal

(AT) (Ins.) No. 824 of 2023, which Appeal was not entertained and disposed of

by order dated 06.07.2023 without interfering with the impugned order.

The Appeal is disposed of accordingly.

[Justice Ashok Bhushan] Chairperson

[Barun Mitra] Member (Technical) Archana/nn

Company Appeal (AT) (Insolvency) No.876 & 877 of 2023