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Judgment
O R D E R
Per: Bidisha Banerjee, Member (Judicial)
Heard Ld. Counsel for the parties.
On 07/06/2022, this Adjudicating Authority in CP(IB) No. 1878/ KB/2019 passed the following order:
“ It is submitted that the Corporate Debtor, MKHS Realty LLP is undergoing CIRP vide order dated 24/05/2022 passed in CP(IB)/279(KB)/2020 [CBRE South Asia Private Limited- vs-MKHS Realty LLP] by Bench No.1. In view of this, the present petition cannot be proceeded with. The Financial Creditor, in this petition, may file its claim before the IRP appointed in CP(IB)/279(KB)2020. Therefore, the present petition stands disposed of with liberty to the Financial Creditor to make an application for its revival, in case there is any settlement between the parties in CP(IB)/279(KB)/2020”.
Vide its order dated 15/06/2022, this Adjudicating Authority was pleased to recall its order dated 24/05/2022 and free the Corporate Debtor from the rigours of the CIRP in view of the fact that parties in C.P (IB)/279(KB)/2020 i.e. M/s CBRE South Asia Private and M/s MKHS Realty LLP had settled the matter. The said CP (IB)/279(KB)/2020 was dismissed as withdrawn, and the IRP discharged.
Emboldened by the above/said liberty granted on 07/06/2022, this application has been preferred to seek the following reliefs inter alia;
i.Allow the present application;
ii.Revive the C.P.(IB) No. 1878/KB/2019 filed by the applicant against the Corporate Debtor i.e. M/s MKHS Realty LLP;
iii.Substitute the name of Mr. Gautam Singhal, Insolvency Professional having IBBI Regn.No. LBBL/IPA-001/IP-P01437/2018-2019/12240 to act as Interim Resolution Professional In the present matter in place of earlier proposed Insolvency Professional;
iv.Ad-interim orders in terms of the prayers above.
Since this Adjudicating Authority had permitted to seek revival of CP (IB)1878/KB/2019, we feel that this application should be allowed.
Hence, prayers (i) to (iii) are granted.
Accordingly, RST.A (IB) No.8/KB/2023 is disposed of.
List the CP for hearing on 02/06/2023.