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2022 (8) TMI 999 - NATIONAL COMPANY LAW TRIBUNAL , INDORE BENCHSeeking direction to the respondent to refund the EMD amount and to reimburse the amount given by the applicant as bank guarantee towards performance security - Section 60(5) of the Insolvency and Bankruptcy Code, 2016 - HELD THAT:- It is noted that the resolution plan submitted by the resolution professional before this Adjudicating Authority under Section 30(6) of the Code, 2016 was not be accepted due to non-consideration of the claims of some home-buyers and the RP & CoC were directed to consider the grievances of the Union Bank of India and other creditors, home-buyers, plot owners etc. 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.
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