IN

C.P. (IB) No. 1170/MB/2021

(Filed u/s. 30(6) of the Insolvency and Bankruptcy Code, 2016)

AAA Insolvency Professionals LLP

Through CA Ankit Goel

Resolution Professional of M/s. D.K. Realty (India) Pvt. Ltd.

… Applicant

ALONG WITH

I.A. No. 4483 of 2024

IN

C.P. (IB) No. 1170/MB/2021

(Filed u/s. 60(5) of the Insolvency and Bankruptcy Code, 2016, r/w. Rule 11 of

NCLT Rules, 2016)

Dr. Samit Madhup Lal & Anr. … Applicant(s)

v/s.

CA Ankit Goel

Resolution Professional of M/s. D.K. Realty (India) Pvt. Ltd.

… Respondent

IN THE MATTER OF

C.P. (IB) No. 1170/MB/2021

LIV Smart Welfare Association

… Financial Creditor

v/s.

D.K. Realty (India) Private Limited

…Corporate Debtor

IN C.P (IB) 1170/MB/2021 __________________________________________________________________________________________

Order Pronounced on: 09.12.2024 Coram:

Ms. Anu Jagmohan Singh Mr. Kishore Vemulapalli Hon’ble Member (Technical) Hon’ble Member (Judicial)

Appearances:

I.A. (IBC)(Plan) No. 50 of 2024 For APRN Enterprises : Mr. Mustafa Doctor (Ld. Sr.

Counsel) a/w. Ms. Chitra Rentala, Ms. Kriti Srivastava, Ms. Priyanka Vishnoi i/b. Trilgal, Ld. Counsel for APRN Enterprises (Secured Financial Creditor of Corporate Debtor).

For the Applicant RP : Mr. Shyam Kapadia (Through Virtual Mode) a/w. Ms. Swechha Mishra, Ld. Counsel for the Resolution Professional.

For the Resolution Applicant : Mr. Nausher Kohli, Ld. Counsel for the Resolution Applicant.

For the Applicant : Ms. Apoorva Chowdhury, Ld.

Counsel for the Applicant.

(Through Virtual Mode)

Space Left Blank Intentionally IN C.P (IB) 1170/MB/2021 __________________________________________________________________________________________

ORDER

1. At the outset, and in relation to the captioned plan-approval application; An Interlocutory Application bearing I.A. No. 4483 of 2024 has been filed by Mr. Samit Madhup Lal & Anr. against the Applicant RP seeking admission of its claim and for directions in furtherance of possession of a unit being developed by the Corporate Debtor. During the course of hearing on 14.10.2024, the Applicant RP has categorically affirmed the treatment of Applicant’s claim in consonance with Item {9.6.3 (a)} of the Resolution Plan in consideration hereto, under the titular head of ‘TREATMENT OF DEFERRED ALLOTTEES SUBMITTING THEIR CLAIMS AFTER VOTING ON THE RESOLUTION PLAN’. This Tribunal, vide its Order dated 14.10.2024, has expressly recorded the same. We are thus of the considered view that the application need not be ventured into, and resultantly stands Disposed-of. Ordered accordingly.

2. The captioned application bearing I.A. (IBC)(Plan) No. 50 of 2024 has been filed on 06.08.2024 by AAA Insolvency Professional LLP (Through CA Ankit Goel - Appointed via Resolution dated 15.06.2024), the Applicant Resolution Professional (“RP / Applicant RP”) of M/s. D.K. Realty (India) Private Limited (“Corporate Debtor”), u/s. 30(6) of the Insolvency and Bankruptcy Code, 2016 (“IBC, 2016”) on behalf of the Committee of Creditors of the Corporate Debtor, seeking approval of the Resolution Plan submitted by LIV Smart Welfare Association (“Successful Resolution Applicant / SRA”) and approved by 99.92% of the voting share of the members of the Committee of Creditors (“CoC”) of the Corporate Debtor herein.

Background of Corporate Insolvency Resolution Process

3. The brief facts of the captioned application bearing I.A. (IBC)(Plan) No. 50 of

2024 in relation to the Corporate Insolvency Resolution Process (“CIRP”) of IN C.P (IB) 1170/MB/2021 __________________________________________________________________________________________

M/s. D.K. Realty (India) Private Limited i.e. the Corporate Debtor herein, are as follows:

3.1 Pursuant to the captioned petition bearing C.P. (IB) No. 1170/MB/2021 filed by LIV Smart Welfare Association (“Financial Creditor”) u/s. 7 of IBC, 2016; This Tribunal was pleased to initiate CIRP of the Corporate Debtor herein vide Order dated 15.11.2022. In furtherance thereof, Mr. Nitin Jain was appointed as the Interim Resolution Professi