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Judgment
On 22.12.2021, we passed the following order:
“This order is being passed in pursuance of the order passed on 14.12.2021, There has to be a proper verification of the homebuyers, based on record, to choose a new Authorized Representative, who will be competent to take up the cause of the homebuyers as a class of Financial Creditors. In view of the above and by consent of all the counsels and parties present, we are inclined to appoint a commissioner to hold the meeting of homebuyers and to elect a new Authorized Representative, who will further the cause of the homebuyers. Thereafter, the proposal of removal of the RP can be taken up only in the presence of the Authorized Representative. Therefore, in such circumstances and by consent of all the counsels present today, and a homebuyer who is present through Video conferencing, we are inclined to grant the request of the counsels to suggest names of willing Former Hon'ble Judges of the High Courts or any other retired bureaucrats to be appointed as Commissioner, to convene the meetings of the homebuyers and to elect the Authorized Representatives thereupon. The terms of reference for the Commissioner will be given at the time when the order is passed."
The Ld. Counsels for the Home Buyers and the Resolution Profession have each suggested the name(s) as per the above order and taking note of the above the following order is passed;
"In order to resolve the issue as above we are inclined to appoint and request Hon'ble Justice (Retd.) Rajiv Sahai Endlaw, Former Judge, High Court of Delhi, R/o 7th Floor, Dakshineshwar Building, Delhi-110001, Phone 10 Hailey Road, New +91-8368046571, email rsendlaw.office@gmail.com, to take up the assignment as the Commissioner. Dr. Rakesh Kumar Gupta, IRS (Retd.), Batch 1986, IRS Civil List Code- 86002, R/o C-2A/7, Janakpuri, New Delhi-110058, Phone- +91-9810764195, will assist the Hon'ble commissioner, in holding the meeting of the homebuyers and to elect the Authorized Representative. The terms of reference for the commission is as under:
1.To convene the meeting of eligible Home Buyers, conduct an election amongst the Home Buyers and to select their Authorized Representatives and for this purpose.
2.To accept nomination of persons to be appointed as Authorized Representative as suggested by eligible Home Buyers.
3.To take all necessary steps for the purpose of orderly conduct of the meeting to select the Authorized Representative.
4.Such incidental acts necessary to achieve the above objects.
5.The name of the selected Authorized Representative to be submitted in a sealed Cover.
6.The Hon'ble Judge Commissioner can specify the remuneration payable to the Resolution Professional who will pay to the Commissioner and the officer assisting the commissioner. In case of any difficulty the remuneration for the commission will be fixed by this Tribunal if necessary
7.Resolution professional to bear all necessary and incidental expenses for the conduct of the meeting as above, including, facilities for commissioner and member."
Pursuant to this Hon'ble Justice (Retd.) Rajiv Sahai Endlaw alongwith Dr. Rakesh Kumar Gupta, conducted the proceedings and the report dated 11.05.2022 has been filed in a sealed cover.
In this report Mr. Anoop Kumar Awasthi has taken 34.97% of the votes of the Home Buyers, who attended the meeting and voted.
Mr. Rakesh Verma has been voted with 15.81% and Mr. Kailash Chandra Jain and Mr. Gulshan Gaba have been voted with less than 1%.
In view of the above, Mr. Anoop Prakash Awasthi has now been appointed as the Authorised Representative of the Home Buyers.
IA-3375/2021
Relief in the application sought for, is as follows:
- “a) Allow the instant application and direct the Resolution professional to put forth the agenda for removal of RP before the CoC along with appointment of Mr. Nilesh Sharma as Resolution Professional as considered by CoC and include other Insolvency Professionals, if any. - b) To direct the Authorized Representative – Mr. Durgadas Aggarwal to act as an administrator for the voting on the said agenda and appointment of new Resolution Professional - c) Any other relief as this Hon'ble Tribunal may deem fit so in the facts and circumstances of the case.”
In terms of order dated 22.12.2022 and the report of Hon'ble Justice (Retd.) Rajiv Sahai Endlaw and Dr. Rakesh Kumar Gupta, an Authorised Representative Mr. Anoop Prakash Awasthi is appointed today.
Henceforth, he will be representing the Home Buyers and take appropriate steps as required under law, to address the grievance of the Home Buyers.
In view of the same, at present prayer 'b' becomes infructuous.
The concerned home buyers can move the Authorised Representative to take up matters, which requires consideration.
IA-3375/2021 stand disposed of.
IA-3139/2021
Relief in the application sought for is as follows:
- “(i) Allow the present application and direct the Resolution Professional to bring the agenda of 'Removal/ replacement of Resolution Professional' bore COC for voting;
(ii)Appoint an independent court observer for fair and transparent voting on the agenda of 'Removal/ replacement of Resolution Professional by the COC,
(iii)Pass any other which this Hon'ble Tribunal may deem fit"
In terms of the order dated 22.12.2022, report of Hon'ble Justice (Retd.) Rajiv Sahai Endlaw and Dr. Rakesh Kumar Gupta, an Authorised Representative Mr. Anoop Prakash Awasthi is appointed today. Henceforth, he will represent the Home Buyers and take appropriate steps as required under law to address the grievance of the Home Buyers.
The concerned home buyers can move the Authorised Representative to take up matters, which requires consideration.
In view of the above IA-3139/2022 stands disposed of.
IA-769/2022
Notice of the application be issued to the Respondent(s)/Non-applicant(s), returnable on 26.07.2022.
At request of Ld. Counsels for the parties, list the matter for physical hearing on 26.07.2022.
All the parties are directed to complete the pleadings, one day before the next date of hearing.