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Judgment
ORDER
Order pronounced in open court vide separate sheets. IA-779/2023 is dismissed as infractuous.
PER: BACHU VENKAT BALARAM DAS, MEMBER (JUDICIAL)
This is an application filed by the class of Financial Creditors/Homebuyers represented herein by Applicant No. 1 in favour of whom an authority letter by e-mail dated 24-27.01.2023 been drawn, filed under Section 60(5) of the Insolvency and Bankruptcy Code, 2016 read with Rule 11 of National Company Law Tribunal Rules, 2016 for seeking following prayers: (i) Extend time period for completion of CIRP by 90 days from the date of order passed by this Ld. Tribunal, as the CIRP ended on 27.01.2023, (ii) Replace the Respondent No. 1 as Resolution Professional with another Resolution Professional as deem fit by the Ld. Adjudicating Authority in present CIRP (iii) Replace the Respondent No. 2 as Authorized Representative with another Authorized Representative as deemed fit by the Ld. Adjudicating Authority in present CIRP and (iv) to direct newly appointed Resolution professional to place only viable resolution plan of Respondent No. 3 before the Committee of Creditors (CoC) for re-consideration and re-voting and under relevant provisions of the Code along with Regulations, 2016, (v) Any other relief/direction/order which this Learned Adjudicating Authority may deem fit in the facts and circumstances of the present case.
In view of the order dated 24.05.2023 passed in IA-753/2023 whereby this Adjudicating Authority allowed Section 12A application and permitted the Applicant to withdraw the main matter. Hence, the present IA-779/2023 dismissed as infructuous.