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Judgment
10.02.2026: This appeal is directed against the order of the Ld. Adjudicating Authority (National Company Law Tribunal, New Delhi Bench, Court-IV) dated 21.07.2025, dismissing I.A No. 2438 of 2025 in CP (IB) No. 2503 of 2019.
The grievance with which the appellant had approached the Adjudicating Authority with the aforesaid application is to exclude certain properties which the applicants claim as having been purchased from the CD fall outside the purview of CIRP. In short they claim that the properties that they had purchased and owned should not be made part of the assets of the CD.
This I.A. came to be dismissed for non-compliance of an order dated 22.05.2025 (there is some discrepancy as to this date) on grounds of procedural non-compliance.
The Learned Counsel appearing for the RP submitted that pursuant to the order of the Adjudicating Authority he had taken physical possession of certain properties of the CD, and so far as the present property is concerned it has three floors and even though this property was shown to be an asset of the CD yet it was not in the physical possession of the CD. When the RP took physical possession of this property some of the occupants had shown titled documents and after verifying the same RP was satisfied that those portion which are in the occupation of legitimate owners are liable to be excluded from the assets of the CD. So far as the present applicants are concerned they have not produced any title documents, and hence physical possession was taken. He submitted that even now the RP is willing to consider the title documents, if any, which the applicants may produce.
He also brought to the notice of this Tribunal an order passed in Comp. App. (AT) (Ins.) No. 883 of 2025 dated 01.07.2025 which came to be passed by another bench of this Tribunal in an identical situation where the Tribunal had given 15 days’ time to the appellant before to make available the titled documents to the RP.
The statement of the Ld. Counsel for the RP is hereby recorded. Without getting into the merit or otherwise of the order passed in I.A. 2438 of 2025, we merely direct the appellants herein to provide the titled documents for their respective portions of the property where in their occupation within a period of two weeks from today. Once these documents are so provided, the RP is required to evaluate those documents in accordance with law.
The appeal is accordingly disposed of.