2025 (1) TMI 1153 - SCH - IBC

Maintainability of Civil suit - bar under Order 7 Rule 11 of CPC - Ownership and possession rights of the Appellant over the disputed land during CIRP proceedings - bar u/s 238 of I B Code - it was held by NCLAT that Having scrutinised the reasons which has been assigned by the Learned Adjudicating Authority in relation to the status of the property and the effect of the pendency of the Civil Suit filed by the Appellant the rejection of the two applications of the Appellant by the Learned Adjudicating Authority by the Impugned order does not call for any interference in the exercise of the Appellate Jurisdiction under Section 61 of I B Code. HELD THAT - There are no good ground and reason to interfere with the impugned judgment; hence the appeals are dismissed.

Summary

The Supreme Court, comprising Chief Justice Sanjiv Khanna, Justice Sanjay Kumar, and Justice K. V. Viswanathan, dismissed the appeals concerning the operation and maintenance of conveyor belt systems. The Court found no "good ground and reason to interfere" with the National Company Law Tribunal's decision, as outlined in paragraphs 26(e) and 26(f) of the Resolution Professional's reply. The judgment confirmed that the right to operate and maintain the conveyor belt systems is considered an asset and right of the Corporate Debtor under the Insolvency and Bankruptcy Code, 2016. All pending applications related to the case were disposed of.