IA-2688/2023 IN CP.IB.68(MB)2021 either continue in the project as per the terms and condition earlier agreed in the allotment letters from the Corporate Debtor; or (ii) to exit the project with 9% compound interest. All the Homebuyers agreed for the first mentioned option of continuing in the project as per the terms and conditions as mentioned in the allotment letters from the corporate debtor. 3. It is alleged that, despite the serious concerns raised by the Home buyers and stating their interests with the Committee of Creditors, the resolution professional failed to entertain them with the sincerity and seriousness required to resolve the matter and he moved further with the Resolution Plan submitted by the Respondent No. 3 which was majorly beneficial for the EARC (Respondent No. 2). That, in the CoC approved Resolution Plan, Respondent No.3 has decided to set-off the claims of the Home buyers by providing them refund of approx. 40% of the claim amount admitted by the RP and to completely overlook the demands and concerns raised by the Home buyers through their authorized representative and the Respondent No.3 has preferred to settle the claim of other financial creditor i.e., Respondent No.2 of INR. 9,98,96,70,414/- more efficiently than the claims of the Home buyers.
