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2021 (12) TMI 849 - NATIONAL COMPANY LAW APPELLATE TRIBUNAL , PRINCIPAL BENCH , NEW DELHIRefund of money paid for the allotment of a house - whether the IRP or the RP, as the case may be, is entitled to refund the money to any of the allottees during the CIRP period? - HELD THAT:- The CIRP of Jaypee Infratech Ltd. (Corporate Debtor) was going on when the Appellant submitted his request for refund. According to the provisions of IBC, the claim of the Appellant shall be settled in accordance with relevant provision in the approved Resolution Plan of the Corporate Debtor. A perusal of the Impugned Order makes it clear that it was passed by the Adjudicating Authority 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.
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