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Judgment
This petition has been filed by the RP of Stellar Investments Limited namely Mr. Mohd. Nazim Khan on 09.03.2023.
It is submitted by Mr. Aman Bhalla, Ld. Counsel for the Respondent that the RP has become functus officio as the plan was already approved on 17.02.2023.
When confronted with this question, the RP adverted that this was so. However, he made a feeble submission that the records were in the process of being transferred to the SRA, hence he had signed and filed this Petition in the inter-alia.
This plea of the RP is untenable.
We find that this petition has been filed without any authority of law and therefore, we are inclined to dismiss the same.
In view of the above, the petition is hereby dismissed. We also deem it appropriate that the matter may be referred to IBBI for taking suitable cognizance/issue guideline to the RPs so that such a mistake does not occur in the future.
IA-3587/2023
IA-3587/2023 also stands closed in view of the above order.