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NATIONAL COMPANY LAW TRIBUNAL
SHRI. MAHENDRA KHANDELWAL, SHRI RAHUL BHATNAGAR, JJ
Neeraj Kumar Dubey & Ors – Appellant
Versus
Rudra Buildwell Projects Pvt. Ltd. – Respondent
| Table of Content |
|---|
| 1. application filed for dismissal under ibc. (Para 1 , 2) |
| 2. issues raised regarding status of financial creditors. (Para 3 , 4 , 6) |
| 3. concurrent remedies available under different laws. (Para 7 , 8) |
| 4. doctrine of election and eligibility for cirp. (Para 10 , 11 , 12) |
| 5. impact of uprera orders on allottees' status. (Para 16 , 19) |
| 6. judgment dismissing application due to non-fulfillment of threshold. (Para 21 , 22 , 23) |
ORDER
PER- RAHUL BHATNAGAR, MEMBER (TECHNICAL) Order Pronounced on: 11.03.2024
1. This application has been filed under Section 60 (5) read with Section 65 (1) of the Insolvency and Bankruptcy Code , 2016 read with Rule 11 of the National Company Law Tribunal Rules, 2016 seeking dismissal of the captioned Petition CP (IB) 888/PB/2022.
2. The applicant in the present application has prayed for the following reliefs: -
a) Delete Applicants 5, 85, 90 and 100 from the Memo of Parties for not being a part of the class of “allottees under a real estate project” since they had already withdrawn from the Project by approaching UPRERA for cancellation of their allotments, and which relief was duly granted by UPRERA; and being guilty of concealment and suppression;
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