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TMI Blog2021 (12) TMI 849X X X X Extracts X X X X X X X X Extracts X X X X ..... uthority during the currency of the CIRP and the prayer of Appellant for full refund, while the CIRP was going on, was declined - in view of the fact that now the Resolution Plan of the Jaypee Infratech Limited approved by the Committee of Creditors is pending approval of the Learned Adjudicating Authority, it is clear that the Impugned Order has lost relevance. The Appellant will be entitled to receive his rightful dues as contained in the Resolution Plan once it is approved by the Adjudicating Authority. Appeal disposed off. - Company Appeal (AT) (Ins.) No. 637 of 2020 - - - Dated:- 20-12-2021 - (Justice Ashok Bhushan) Chairperson And (Dr. Alok Srivastava) Member (Technical) For the Appellant : Ms. Revathy Raghavan, Advocate ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... it has to be construed as calm period, in which, the IRP is supposed to maintain status quo position until the resolution Plan is approved or the company is sent for liquidation. Therefore, the question of refunding allotment to one of the allottees will not arise during the CIR period, whereby this application is hereby dismissed with liberty to proceed in accordance with law. 4. During hearing of this appeal, the Appellant had sought transfer of this appeal to the Hon ble Supreme Court so that it could be heard along with similar petitions on the same matter. The Appellant thus filed T.P. (Civil) No. 1058/2020 before the Hon ble Supreme Court in which order was delivered on 12.11.2021. 5. IA No. 95616/2020 (which is applic ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e, who had put all his life savings to purchase a flat in the said project of Jayee Infratech Ltd.. He has suffered some personal tragedies in his life and does not now want a completed flat. Instead he has requested for full refund of the money deposited by him with the promoters of the project. 9. The Learned Counsel for IRP (Respondent No. 2) has submitted that after the captioned appeal was transferred to Hon ble Supreme Court as Transfer Petition bearing T.P. (Civil) No. 1058 of 2020, which was disposed off by the order dated 12.11.2021 (supra) of the Hon ble Supreme Court nothing remains in this appeal. He has further submitted that the revised Resolution Plan submitted by NBCC and Suraksha and the Committee of Creditors in its com ..... X X X X Extracts X X X X X X X X Extracts X X X X
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