AI Structured Summary
Not yet generated for this judgment
Judgment
Heard Learned Counsel for the Appellant. This appeal has been filed against the order dated 02.03.2023 passed by National Company Law Tribunal, Principal Bench, New Delhi by which order application filed by the Liquidator for approval for assignment of all rights and interest regarding plot area on basis of e-auction conducted on 18.10.2022 has been allowed. The appellant aggrieved by the order has come up in this appeal.
In paragraph 21 of the order, Adjudicating Authority has noticed that Learned Counsel for RIICO appeared along with DGM, RIICO and stated that subject to the payment of dues they will restore allotment in favour of the auction purchaser. Learned Counsel for the Appellant submits that DGM has no authority to make such statement.
We have considered the submissions of Learned Counsel for the Appellant and perused the records.
Before the Adjudicating Authority the Successful Auction Purchaser appeared and stated that they will clear the dues of RIICO on which statement was recorded on behalf of the RIICO that allotment shall be restored in favour of the auction purchaser.
The order passed by Adjudicating Authority does not suffer from any error which may warrant interference by this Court in exercise of Appellate Jurisdiction. Appeal is dismissed.