ORDER

Per: Balraj Joshi, Member (Technical)

1. This Court convened through video conferencing.

Preliminary

2. I.A. (IB) No. 921/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 on 27 August 2022 by Mr. Jayesh Natvarlal Sanghrajka, Resolution Professional of Ashiana Landcraft Realty Private Limited (CIN: U70200WB2012PTC173601), 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 Ashiana Landcraft Realty Private Limited (Corporate Debtor).

4. The underlying Company Petition in C.P. (IB) No. 666/KB/2020 was filed by IDBI Trusteeship Services Limited against Ashiana Landcraft Realty Private Limited, the Corporate Debtor, under section 7 of the Insolvency and Bankruptcy Code 2016, which was admitted vide order dated 11 January 2022.

5. Initially, Mr. Jayesh Natvarlal Sanghrajka, t