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Judgment
Heard Learned Counsel for the Appellant as well as Counsel for the Resolution Professional.
This Appeal has been filed against the order dated 30.08.2023 passed by the Adjudicating Authority (National Company Law Tribunal), New Delhi, Special Bench (Court-II) in IA No. 4569 of 2023. Application was filed by the Appellant seeking a direction to exclude the Unit No.525 situated at Fifth Floor of Universal Business Park located at Golf Course Extension Road, Sector-66 Gurugram, Haryana from the Resolution Plan of the Corporate Debtor.
Appellant’s case is that the Conveyance Deed has been excluded in favour of the Appellant, hence, unit ought to have been excluded from the project.
Learned Counsel for the Resolution Professional submits that the units were oversold, hence, the issue has to be considered by the Successful Resolution Applicant in the Resolution Plan. The Adjudicating Authority by the impugned order instead of deciding the Application on merit observed that “Ld. Counsel appearing for the RP undertakes to examine the plea espoused in the application and communicate its decision to the Applicant within 2 weeks”.
After having heard Learned Counsel for the parties, we are of the view that the Appellant has raised the issue and the Adjudicating Authority ought to have decided the issue on merit after giving an opportunity to the Resolution Professional to submit a Reply in the Application. We are also of the view that the Resolution Professional may be allowed time to file Reply to the Application within two weeks from today.
In view of the aforesaid, we revive Application IA No.4569 of 2023 before the Adjudicating Authority to be heard afresh and decided accordingly.
Appeal is disposed of accordingly.