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Judgment
CA-250/2020 has been filed praying for confirmation of the Resolution Professional. The CoC comprises of the Authorised Representatives of the home buyers being the sole member of the CoC and has approved the appointment of Mr. Nilesh Sharma is the Resolution Professional. The Resolution to this effect appears on page 14 of the said application and is duly supported by the affidavit of the Authorise Representative/Member of the CoC. In view of the same, there is no legal impediment confirming in appointment Mr. Nilesh Sharma. He is accordingly appointed as the RP in this case. His certificate of registration as well as consent in Form-AA is on record. CA stands disposed off.
CA-197/2020 has been filed by an applicant who is an Operational Creditor, Though his claim has been taken into account, he is apprehensive that his bank guarantees shall be invoked arbitrarily by the RP. Notice of this application is accepted by the ld. counsel for the CoC. Notice also be effected on the RP confirmed today. Let reply be filed. Till then, the RP shall not invoke any bank guarantee or liquidate any fixed deposit given by the applicant in favour of the Corporate Debtor.
To come up on 27th January, 2020.