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TMI Blog2019 (12) TMI 1570X X X X Extracts X X X X X X X X Extracts X X X X ..... t both the parties, a separate hearing is required to decide the merits of each application. In the meanwhile, as an interim measure, it is prudent on the part of this Bench, after going through an elaborate discussion during the course of the hearing, that the possession be handed over to the CoC, who in turn will handover the same to the erstwhile RP. The successful Resolution Applicant shall ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r (T) And Shri Bhaskara Pantula Mohan Member (J) ORDER MA 2326/2019, MA 2124/2019 In C.P.(IB)-1399(MB)/2017 Heard the Counsel representing the successful Resolution Applicant and the CoC as well as the erstwhile RP. There are three applications before us, one claiming the CIRP costs and another filed by the successful Resolution Applicant challenging the resolution plan ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on to handover the possession of the undertaking back to the CoC without prejudice to the rights and contentions. Ld. Sr. Counsel representing the Banks also contends that the unit has been handed over to the Successful Resolution Applicant on as is where is condition and all the information that was required to be provided has already been provided and the successful Resolution Applicant ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e entire process of taking inventory and handing over the possession shall be video graphed and shall be taken in the presence of both the parties. For this purpose, we hereby order the restoration of the CIRP and the erstwhile RP shall continue as RP henceforth. All the privileges, rights available to the RP under the CIRP under Section 14 mutatis mutandis shall be applicable until the prop ..... X X X X Extracts X X X X X X X X Extracts X X X X
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