JUDGMENT

ASHOK BHUSHAN, J.

The Appeal(s) have been filed against the – (i) Order dated 23.06.2023 passed by National Company Law Tribunal, Mumbai Bench-I in IA No.1950 of 2021 filed by the Resolution Professional (“RP”), by which order Resolution Plan submitted by Ashdan Properties Pvt. Ltd.; Classic Promoters and Builders Pvt. Ltd. and Atul Builders India Pvt. Ltd. (in Consortium) have been approved by the Adjudicating Authority in respect of the Corporate Insolvency Resolution Process (“CIRP”) of D.S. Kulkarni Developers Ltd. (the Corporate Debtor); and (ii) Orders dated 01.08.2023, rejecting the IA’s filed by Homebuyers as infructuous consequent to order dated 23.06.2023.

2. The above Appeal(s) have been filed by Promoters of the Corporate Debtor; other Group Entities; Operational Creditors; Employees and Homebuyers of the Corporate Debtor. For convenience, the Appeal(s) can be divided in three groups namely – Group-I, Group-II and Group-III.

Group-I

(1) Company Appeal (AT) (Insolvency) No. 63 of 2024 - Deepak Sakharam Kulkarni & Anr. (Promoter);

(2) Company Appeal (AT) (Insolvency) No. 1142 of 2023 - Shirish Deepak Kulkarni (Promoter);

(3) Company Appeal (AT) (Insolvency) No. 1307 of