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Judgment
O R D E R
28.02.2023: Heard learned counsel for the Appellant.
This appeal has been filed against an order dated 13.01.2023 by which the order an application filed by the Respondent being IA No.1128 of 2022, has been allowed.
The case of the Applicant before the Adjudicating Authority was that their claim was previously approved by the erstwhile Resolution Professional and which has now been rejected by the RP. The application was filed for seeking a direction to accept their claim. The Applicant had paid an amount of Rs.75 Lakh to Monarch Imperial, execution of registered agreement for sale for three flats was also undertaken. Due to delay in completion of project, the partners of Monarch Imperial transferred the amount, paid by the Applicant to their real estate project being developed by the Corporate Debtor. The Adjudicating Authority by impugned order, has allowed their application, aggrieved by the said order, the RP has come up in this appeal.
Ld. Counsel for the Appellant submits that no amount was disbursed to the Corporate Debtor. Hence, the same could not have been admitted.
We have heard Ld. Counsel for the Appellant and perused the record. The Adjudicating Authority has considered the submissions and has relied on the receipt which were issued on behalf of the Corporate Debtor by Partners/Builders where the receipt of the amount of Rs. 75 lakh was acknowledged on behalf of the Corporate Debtor and it was also mentioned that the said investment have been transferred and utilized for the Corporate Debtor. On the said finding, the Adjudicating Authority held that the claim of the homebuyers has to be admitted. We do not find any error in the impugned order passed by the Adjudicating Authority accepting the claim when the promoters of the project which was being developed earlier where the amount was received, have been transferred and utilized in the project which is run by the Corporate Debtor, their claim has rightly been accepted and we see no reason to interfere with the order of the Adjudicating Authority. Hence, the appeal is dismissed.