9911796707
TMI Blog2019 (11) TMI 683X X X X Extracts X X X X X X X X Extracts X X X X ..... ings premises of Lakshmi Towers do not belong to the Corporate Debtor , in view of Section 14(1) (d), the Corporate Debtor cannot be ejected or disturbed from the premises, in question, during the Moratorium - thus the Adjudicating Authority has rightly directed the Appellant to hand over the possession of B Wing premises of Lakshmi Towers and rightly prohibited the Appellant from evicting the Corporate Debtor from A Wing premises of Lakshmi Towers. Who is the owner of A and B Wings premises of Lakshmi Towers? - whether the Appellant has any right over the said property? - HELD THAT:- Such questions are not required to be determined in the proceeding under the I B Code - If the Corporate Debtor is saved during the liqu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Resolution Professional and to restrain the Appellant from taking any action in relation to A Wing premises pursuant to the notices issued by the Appellant under Section 13(4) of the SARFAESI Act. 3. The Adjudicating Authority, on hearing the parties, allowed the application filed by the Resolution Professional and directed the Appellant to immediately return the physical possession of the B Wing premises to the Resolution Professional and restrained the Appellant from taking any further action in relation to A Wing premises pursuant to the notices issued by the Appellant under Section 13(4) of the SARFAESI Act. 4. Learned counsel appearing on behalf of the Appellant submitted that the immovabl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of Lakshmi Towers and rightly prohibited the Appellant from evicting the Corporate Debtor from A Wing premises of Lakshmi Towers. 9. So far as the question as to who is the owner of A and B Wings premises of Lakshmi Towers and whether the Appellant has any right over the said property, such questions are not required to be determined in the proceeding under the I B Code . If the Corporate Debtor is saved during the liquidation proceeding pursuant to Section 230 of the Companies Act, 2013 or if it is sold to a third party along with the employees then, in such case, one may move before the Competent Court of law for appropriate decision. 10. On the other hand, if action is taken under Section 53 of ..... X X X X Extracts X X X X X X X X Extracts X X X X
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