(Sanjay Kishan Kaul and Manoj Misra, JJ.)
Bankey Bihari Infrahomes Pvt. Ltd. ________________ Appellant;
v.
Alok Kumar Kuchchal and Another _____________ Respondent(s).
Civil Appeal No(s). 125/2023, decided on February 7, 2023
The Order of the court was delivered by
Order
I.A. (Dy.) No. 27202/2023 and I.A. (Dy.) No. 27204/2023
1. Applications are taken on board.
2. Learned counsel for the applicant urges that he did not participated in the auction because somehow he missed out on the auction but he is willing to pay more. There is hardly a reason for the applicant to intervene.
3. Applications stand dismissed.
I.A. No. 26569/2023 and I.A. No. 26573/2023
4. These applications are by the home buyers who claim that the process is carried out in a hurry therefore the actual price is not being realized.
5. Once the process is followed, such kind of endeavours will only prolong the matter and go contrary to the very objective of the Insolvency and Bankruptcy Code, 2016 (IBC).
6. Applications stand dismissed.
7. Learned counsel for the appellant states that the appellant has not been able to raise the amount of Rs. 12.48 crores but has got a draft of Rs. 3,00,00,000/-. Despite this we have heard learned counsel for the appellant. The bottom line is that 12.48 crores haven not been brought as assured on the last date.
8. The civil appeal stands dismissed accordingly.
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