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Judgment
Heard Learned Counsel for the Appellant as well as Mr. Abhijeet Sinha appearing for the Corporate Debtor. This appeal has been filed against the order dated 27.03.2023 by which I.A. No. 55 of 2023 filed by the appellant praying for dismissal of CP (IB)/657/ND/2021 has been rejected. The Section 7 application was filed by 147 unit holders which application is proceeding. The Appellants are another set of home buyers, 66+23 in number, have prayed for dismissal of the Section 7 application which has been rejected.
Ld. Adjudicating Authority has observed that keeping the majority interest in the view there is no ground to allow the application. Mr. Abhishek Anand Counsel for the appellant submits that it is a real estate project, hence, initiation of CIRP will not be in the interest of the home buyers. Learned Counsel for the Corporate Debtor has also supported the appellant.
We have considered the submissions of the parties and perused the records.
When the application was filed by 147 home buyers in their own right which has not yet been admitted, we see no reason to entertain any application by another set of home buyers for rejection of the application.
The application filed by the appellant has rightly been rejected. The application under Section 7 which was required to be considered by the Adjudicating Authority. It is always open for the Adjudicating Authority to ask for any material from the Corporate Debtor or any other entity, however, we do not find any error in the order impugned, Appeal dismissed.