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TMI Blog2022 (8) TMI 999X X X X Extracts X X X X X X X X Extracts X X X X ..... tc. The resolution applicant submitted the modified plan to the CoC, which was rejected by the CoC and further the CoC forfeited the EMD of the resolution applicant which is not as per the provisions of law - it is directed that the forfeited amount of the resolution applicant should be refunded to the resolution applicant within 14 days from the date of this order. Application disposed off. - IA 22 of 2022 in TP 230 of 2019 ( CP (IB) 192 of 2017 ) - - - Dated:- 5-8-2022 - M. B. Gosavi , Member ( J ) And Kaushalendra Kumar Singh , Member ( T ) For the Appellant : Ravi Pahwa , Ld. Advocate For the Respondents : Sanjay Kumar Singh and P. K. Parmar , Ld. Advocates ORDER 1. The instant Application is filed by Alkon ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed 04.04.2020 and further the applicant with its Resolution Plan deposited second stage EMD of Rs. 40,00,000/- through cheque number 000704 drawn on HDFC Bank dated 04.05.2020. (iii) The CoC in its meeting dated 09.06.2020 approved the resolution plan of the applicant with 77.49% majority and therefore, the applicant deposited 2% of the bid amount being Rs. 13,00,000/- by way of bank guarantee towards performance security. The respondent filed an application before this Adjudicating Authority for the approval of the said resolution plan, however, the plot buyers filed group of applications raising that their claims were not considered by the respondent and thereafter, the Adjudicating Authority vide order dated 12.01.2021 directed the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... consider their claims and therefore, this Adjudicating Authority vide order dated 12.01.2021 directed the respondent and the CoC to consider the objections raised by the Union Bank of India and the homebuyers, plot owners etc. (iii) Thereafter, the CoC in its meeting dated 04.02.2021 directed the respondent to update claim list and to amend the resolution plan and accordingly, the respondent sent an email dated 09.02.2021 to the applicant for modification in the resolution plan in terms of the order dated 12.01.2021 of the Adjudicating Authority. (iv) That the applicant submitted the revised resolution plan on 20.02.2021 which was entirely different from the original resolution plan and therefore, the CoC in its meeting dated 25.0 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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