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TMI Blog2020 (7) TMI 768X X X X Extracts X X X X X X X X Extracts X X X X ..... me claims settled at pre-admission stage before the Adjudicating Authority. In so far as the remaining claims were concerned, the Adjudicating Authority allowed a definite time frame viz. 3 months giving liberty to the claimant(s) whose claims would remain unsettled after expiry of the given time frame, to come back and re-agitate the matter. It cannot be said that the impugned order is of such a nature which is prejudicial to the rights and interests of any of the stakeholders. The claimant(s) who may be dissatisfied or whose claims remain unsettled during the given time frame can approach the Adjudicating Authority who has not shut its doors. Assailing of the impugned order in appeal would not be the appropriate course - bearing in min ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... unsel for the Appellant we find that the subject matter being a Housing Project with stakeholders, inter alia, being the Allottees and the Investors, the Company Petition came to be disposed of on the basis of Joint Consent Terms dated 12th February, 2020 filed by the parties to the Company Petition. Having regard to the Consent Terms, the Adjudicating Authority observed that claims of 140 Investors have been fully settled by the Corporate Debtor and an amount of ₹ 27.25 Crore has been paid to them and 13 claims of the Petitioners before the Adjudicating Authority have been settled, whereas 40 are in the process of settlement and remaining 39 are pending settlement. The Adjudicating Authority was of the view that the process of settle ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rests of any of the stakeholders. The claimant(s) who may be dissatisfied or whose claims remain unsettled during the given time frame can approach the Adjudicating Authority who has not shut its doors. Assailing of the impugned order in appeal would not be the appropriate course. 5. It is a fact that the given time frame has already elapsed but we take judicial notice of the fact that normal business operations had been adversely affected by the imposition of lockdown due to outbreak of COVID-19 which has been declared pandemic. Even after unlocking, the pace of business operations is far from normal. In these circumstances, some concession has to be given in adherence to the timelines set in terms of the impugned order. Be-that-as-it-m ..... X X X X Extracts X X X X X X X X Extracts X X X X
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