Tribunals and CommissionsDivision Bench(2023) 01 NCLAT CK 0010

Sangita Fiscal Services Pvt. Ltd. & Ors vs Duncan Industries Ltd

National Company Law Appellate Tribunal · Decided on 4 January 2023

HON’BLE JUDGES
Ashok Bhushan, Chairperson · Barun Mitra, Member (T)
RESULT
Dismissed
CASE NUMBER
Company Appeal (AT) (Insolvency) No. 1522 Of 2022

CourtKutchehry membership

More clarity. Every judgment.

Download court copies, explore connected cases and make more of every research session.

Loading membership options…

Ask AI about this case

AI Structured Summary

Not yet generated for this judgment

Judgment

6 paragraphs · 317 words
1.

Heard Learned Counsel for the Appellant.

2.

This Appeal has been filed against the Order dated 14th September, 2022 passed by the Adjudicating Authority in I.A. No. 557(KB)2021. The Application was filed by the Lessor seeking the possession of the Flat which was in the possession of the Corporate Debtor and now in the possession of the Resolution Professional. A reply was filed to the said I.A. in which Resolution Professional made a statement in paragraph 9 which has been extracted by the Adjudicating Authority in paragraph 3(b) which is to the following effect:

“b. In para 9 of this Affidavit reads as “It is submitted that the said property has not been included in the pool of assets of the Corporate Debtor by the Resolution Professional. Hence, the Resolution Professional shall not transfer the possession of the property and/or create any third party rights on the said property during the course of the Corporate Insolvency Resolution Process of the Corporate Debtor.”

3.

The Adjudicating Authority after noticing the aforesaid statement made, directed the Resolution Professional to hand over the possession of flat within four weeks.

4.

Learned Counsel for the Appellant submits that a suit has already been filed for eviction which is pending in City Civil Court.

5.

Be that as it may, when the asset does not belong to the Corporate Debtor and as submitted by the Learned Counsel for the Appellant that earlier in the premises, there was office of the Corporate Debtor which is now shifted, we are of the view that the directions passed by the Adjudicating Authority for vacating the premises cannot be faulted. The Resolution Professional can incur liability in the CIRP if there is any requirement. Unnecessary incurring expenses and costs is unnecessary burden which need to be paid as CIRP Cost. Thus, we see no reason to interfere with the Impugned Order, the Appeal is dismissed.