Steno NCLT Exams Dictation No. 631

The Respondent No. 1 was appointed Resolution Professional (RP) by the Adjudicating Authority vide order dated 25.08.2021. In 3rd CoC Meeting, RP informed the CoC that Corporate Debtor does not have any money in its Bank Account and there is need to raise finance to implore functioning of a Corporate Debtor as a going concern. Homebuyers expressed their view in the CoC that the construction of the Project must commence as early as possible.