BARUN MITRA Vs. AVP BUILDTECH PVT LIMITD

JUDGEMENT

(1.) This hearing has been held through video conferencing.

(2.) The Petitioner is an allotee/homebuyer in a project of AVP Buildtech Pvt Ltd. The said company is undergoing insolvency proceedings and an Insolvency Resolution Professional (hereinafter, "IRP") has already been appointed. The IRP, Mr. Manish Kumar Gupta, is present before this Court today.

(3.) The submission of Mr. Venugopal, ld. Sr. Counsel appearing for the Petitioner, who is one of the allotees, is that the National Company Law Appellate Tribunal (hereinafter, "NCLAT") did not agree to implead the allottee in the proceedings pending before it, and there was a freeze ordered on the claims to be filed before the IRP, vide order dated 13th March, 2020. However, despite the said order, thereafter, the IRP has been permitted to go ahead and finalise the terms of settlement, if any, between the allotees, creditors and the companies.