ORDER

IA 4920/2023:-

The present IA has been preferred by the Applicant Indiabulls Housing Finance Limited for levy of a penalty under Section 65 of Insolvency and Bankruptcy Code, 2016 against the Respondent for initiating fraudulent CIRP proceedings against the Corporate Debtor i.e., Epitome Residency Private Limited and also for recall of the order dated 12.06.2023 vide which the Corporate Debtor was admitted to CIRP.

The case of the Applicant is that the Respondent JLL Building Operations Private Limited i.e., the Operational Creditor in the Company Petition filed a Petition under Section 9 of the Code against the Corporate Debtor i.e., Epitome Residency Private Limited. Vide order dated 12.06.2023 the Respondent Corporate Debtor was admitted to CIRP and the Hon’ble Tribunal was pleased to appoint Mr. Ashok Barbole as the IRP. In compliance with the provisions of the Code the IRP issued a public notice dated 18.06.2023 calling upon the creditors of the Corporate Debtor to submit their claims with requisite documents on or before 29.06.2023. The case of the Applicant is that pursuant to the public announcement applicant filed its claim with the IRP on 13.07.2023 for an amount of R