Katra Realtors Pvt. Ltd. filed an appeal against the order dated 24.01.2024 passed by the Adjudicating Authority (National Company Law Tribunal), New Delhi, Court-III, which rejected IA No.882 of 2023. The application sought the replacement of the Resolution Professional. Katra Realtors Pvt. Ltd. is a minority shareholder, holding 8.785% shareholding in the Corporate Debtor. The Adjudicating Authority rejected the application relying on Section 27 of the IBC. The Appellant alleged issues with the Resolution Professional's admission of claims. The Respondents argued that a group company of the Appellant had already filed an application questioning the transactions and admission of claims, and that the Appellant was attempting to obstruct the CIRP. The appellate tribunal

Katra Realtors Pvt. Ltd. filed an appeal against the order dated 24.01.2024 passed by the Adjudicating Authority (National Company Law Tribunal), New Delhi, Court-III, which rejected IA No.882 of 2023. The application sought the replacement of the Resolution Professional. Katra Realtors Pvt. Ltd. is a minority shareholder, holding 8.785% shareholding in the Corporate Debtor. The Adjudicating Authority rejected the application relying on Section 27 of the IBC. The Appellant alleged issues with the Resolution Professional's admission of claims. The Respondents argued that a group company of the Appellant had already filed an application questioning the transactions and admission of claims, and that the Appellant was attempting to obstruct the CIRP. The appellate tribunal