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Judgment
Heard Learned Counsel for the parties.
This Appeal has been filed against the order dated 26.07.2023 passed by the Adjudicating Authority (National Company Law Tribunal), Principal Bench, New Delhi, by which the Adjudicating Authority on different IAs has observed that meeting may be hold by the Corporate Debtor with the home buyers under the aegis of the Advocate Commissioner to evolve a viable solution. This Appeal by the lead home buyer has questioned the order and submit that the Application under Section 7 has been filed by the home buyers and earlier attempts to find out a viable solution did not fructify, hence, there was no occasion to direct for another meeting which is nothing but loss of time.
Learned Counsel appearing for the Corporate Debtor submits that the meeting is convened only for the purpose of finding of satisfactory solution to the majority of the home buyers and it is not with any intend to delay the resolution of the Corporate Debtor. It is submitted that the meeting could not be held on 10.08.2023 as directed and now the same shall be done before the next date fixed before the Adjudicating Authority i.e. 22.08.2023.
In facts of the present case, we are of the view that in view of the fact that meeting is going to take place before the next date fixed before the Adjudicating Authority, we see no reason to interfere with the order. We, however, make it clear that outcome of the meeting as submitted before the Adjudicating Authority shall be for the consideration of the Adjudicating Authority to take an appropriate decision in accordance with law. We further make it clear that the outcome of the meeting shall be without prejudice to rights of the Appellant.
With these observations, the Appeal is disposed of.