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2021 (8) TMI 615 - AT - Insolvency and BankruptcySeeking clarification of the order dated 04.03.2021 - Rule 11 of National Company Law Appellate Tribunal, Rules, 2016. Clarification - I It is requested that the exclusion for the period when the order was passed i.e. 04.03.2021 may be granted, otherwise it would cause irreparable loss to the Applicant and also all the homebuyers - HELD THAT:- As per earlier order, the allottees were directed to deposit balance amount and pay 90% by 15.03.2020. Now, the allottees are directed to deposit balance amount and pay 90% by 31.08.2021. Clarification –II In Para 18 of the order dated 04.03.2021 this Tribunal has observed that “the amount invested by him as financial creditor in terms of the judgment shall stand forfeited and" - It is stated that such observation is amounting to altering the judgment dated 05.02.2020, therefore, this condition may be removed/deleted - there are no reason to remove/delete aforesaid condition. Clarification –III The Adjudicating Authority may be directed to decide the Application for replacement of IRP in time bound manner. As we have already noted above that the Adjudicating Authority vide order dated 01.06.2021 replaced the IRP and appointed Mr. Manoj Kulshrestha as IRP, who has taken charge on 22.06.2021. Therefore, no clarification or direction is required. Application disposed off.
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