Mabsoot Buildhomes India Private Limited (“MBIPL” or “Corporate Debtor”) was incorporated in 2013 and is involved in the business of real estate activities with own or leased property which includes buying,selling, renting and operating of self-owned or leased real estate such as apartment building and dwellings,non-residential buildings, developing and subdividing real estate into lots etc. It is classified as a non-govt. company and is registered at the Registrar of Companies, Delhi. L&T Finance Limited (“L&T”) had filed application u/s 7 for initiation of corporate insolvency resolution process as per the provisions of the Insolvency and Bankruptcy Code, 2016 before the Hon’ble National Company Law Tribunal, New Delhi Bench – IV against Mabsoot Buildhomes India PrivateLimited. The application was admitted by the NCLT vide its order dated May 2, 2023, however the same was uploaded on May 8, 2023. Vide its order, Mr. Ajit Gyanchand Jain was appointed as the Interim Resolution Professional of the Company with effect from the Insolvency Commencement Date. A public announcement was made on May 11, 2023, in the newspapers (Jansatta and Financial Express) regarding initiation of CIRP of the Corporate Debtor pursuant to the Order and had called for submission of proofs of claim from the financial creditors, operational creditors, workmen, employees and all other stakeholders of Mabsoot Buildhomes India Private Limited in the specified forms till May 22, 2023 (the “Cut-off Date”). A copy of the public announcement dated May 10, 2023 has been published on the website of the Insolvency and Bankruptcy Board of India. Further, pursuant to the provisions of Regulations 13(2) (d) and 17(1) of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, a report has been filed in the Hon’ble NCLT certifying constitution of Committee of Creditors of Mabsoot Buildhomes India Private Limited vide application dated May 25, 2023. Further, the Committee of Creditors in its first meeting dated June 9, 2023 appointed Mr. Ajit Gyanchand Jain as the Resolution Professional of the Corporate Debtor.