COMMON ORDER

Per: D. Arvind, Member (Technical)

1. The Court congregated through a hybrid mode.

I.A. (IB) No. 2409/KB/2024

2. Heard the Ld. Sr. Counsels/ Ld. Counsel for the parties in extenso.

3. This application has been preferred by Ganga Construction (Consortium) under Section 60 (5) of the Insolvency and Bankruptcy Code, 2016 , for brevity “I&B Code” against Anil Kumar Mittal, Resolution Professional (RP) of Varutha Developers Pvt. Ltd. (Corporate Debtor) and Ors. seeking for the following reliefs:

a) Set aside the Letter of Intent issued in favour of Manglam Multiplex Pvt. Ltd. for being illegal, arbitrary, and in contravention of the provisions of the Insolvency and Bankruptcy Code, 2016 AND/OR;

b) Declare Manglam Multiplex Pvt. Ltd./ Respondent No. 6 as ineligible to be a Resolution Applicant under Section 29A of the Insolvency and Bankruptcy Code, 2016 , and direct its disqualification from the CIRP process. AND/OR;

c) Declare the conduct of CIRP, including the Negotiation Process, as illegal, arbitrary, and non-transparent, and direct the re-conduction of the CIRP in a fair and impartial manner, ensuring equal opportunity to all Potential Resolution Applicants (PRAs), includ