Debtor and the secured financial creditor. In this regard, it is submitted that a perusal of the present Application itself shows that ths allegation cannot be sustained. While it is true that the original transaction between the Applicant and the Corporate Debtor was prior to the loan agreement with LICHFL, it is an admitted position that the transaction/ allotment was cancelled/ novated. The Applicant cancelled that allotment in the year 2018 (i.e., after the loan agreement with LICHFL) and sought allotment of a different unit. At the time D-403 was allotted to the Applicant, a NOC from LICHFL became a necessity under the terms of the agreement between it and the Corporate Debtor. Thus, there is not merit to this submission. Even otherwise, it is ultimately its responsibility to collate and verify claims received by him. The claims received, verified, and collated by him are independent of the issue of whether or not a claimant is in possession of a NOC from LICHFL. The issue of whether or not a claimant has an NOC from LICHFL is not related to the claims and is, therefore, not an aspect of the matter which is subject to judicial review. The different treatment of allottees as “affected allottees” and “unaffected allottees” is a commercial decision taken by the Resolution applicant which has been approved by the CoC in its commercial wisdom. Being a commercial aspect, is not open to judicial review.
