Procedure for replacement of an Authorised Representatives as per CIRP Regulation 16A(3A) has to be followed for replacement of Authorised Representatives | A lone Homebuyer cannot be allowed to question the voting by Authorised Representatives on behalf of majority of Financial Creditor in a class – Ashmeet Singh Bhatia Vs. Rakesh Verma and Anr. – NCLAT New Delhi
The NCLAT New Delhi held that:
(i) The date of refiling after curing the defects cannot be treated to be date of filing of the Appeal for purposes of computation of limitation and date of e-filing cannot be treated to be fresh date of filing of the Appeal.
(ii) All Authorised Representative in a class are bound by the voting by majority of votes as reflected by the voting by the AR. A lone Homebuyer cannot be allowed to question the voting by Authorised Representatives on behalf of majority of Financial Creditor in a class.
(iii) When a procedure for replacement of the Authorised Representatives have been introduced in the Regulations by 16A(3A) inserted on 18.09.2023, the said statutory provision has to be followed for replacement of Authorised Representatives.