ORDER

Per: Balraj Joshi, Member (Technical)

1. This Court convened through hybrid mode.

Preliminary

2. I.A. (IB) No. 980/KB/2022 is an application under section 30(6) of the Insolvency and Bankruptcy Code, 2016, after approval of the resolution plan by the Committee of Creditors (“CoC”)

3. This application was filed by Mr. Kamal Nayan Jain, Resolution Professional of Sampark Land and Builders Private Limited (CIN: U70109WB2011PTC157021), by invoking the provisions of section 30(6) of the Insolvency and Bankruptcy Code, 2016 (“the Code” or “IBC”) read with regulation 39(4) of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 (“CIRP Regulations”) for approval of a Resolution Plan in respect of Sampark Land and Builders Private Limited (“Corporate Applicant”).

4. The underlying Company Petition in C.P. (IB) No. 888/KB/2020 was filed by Sampark Land and Builders Private Limited, the Corporate Applicant, under section 10 of the Insolvency and Bankruptcy Code 2016, which was admitted vide order dated 30 April 2021.

5. Initially, Mr. Kamal Nayan Jain, the Applicant herein (IBBI Reg. No. IBBI/IPA/P00029/2016-2017/10065) was appoin