9911796707
TMI Blog2020 (1) TMI 1229X X X X Extracts X X X X X X X X Extracts X X X X ..... ut (NITC) against the corporate debtor under Section 60(5) of the Code seeking reliefs, which are as follows:- (a) To direct the corporate debtor/RP to co-operate with the taking of the final measurements and reconciliation of the work done by the corporate debtor in the mega hostel project of NITC, within such time as may be fixed by this Tribunal, facilitating the completion of the project by rearrangement of the work with the CPWD without any further delay. (b) In the event of the non-cooperation from the part of the corporate debtor, permitting the taking of the final measurements and reconciliation of the work done by the corporate debtor in the mega hostel project of NITC through or in the presence of an independent agency/CPWD as ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... it would complete the project on 14.08.2011, but the fact of the matter is, till today it has not been completed. Though the corporate debtor failed to complete and hand over the project within the stipulated time, despite the Applicant Institute is, by virtue of the Agreement, entitled to terminate the agreement and invoke default clauses against the Corporate Debtor, the Applicant, instead of taking those steps, kept on extending period for completion of the project, initially hoping that it would complete the project, thereafter, by virtue of Court interference, extended time after time. Unfortunately, this extension continued even after this IBC Company Petition was admitted. When the RP also failed to adhere to the supplemental agreeme ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... any prejudice either to the RP or to the corporate debtor and it will not at all lead to construe that this relief or order will have bearing over determination of the dues payable in between the corporate debtor and this applicant. It is nothing but to allow this applicant to continue with the remaining work so as to avoid further delay and to avoid further escalation of the cost of the project. With regard to the dues payable either by the corporate debtor or by the applicant, the parties are always at liberty to take recourse against each other. As to jurisdiction over the present subject matter to say that this Bench has no jurisdiction to hear this application, the RP counsel has relied upon Hon'ble Supreme Court case in between M ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ork done by the Corporate debtor, so that tomorrow there won't be any difficulty to ascertain the value of the work and keep the account clear in between the debtor and the Applicant. Since, the RP himself entered into a supplemental agreement with the applicant for completion of the work by 30.11.2008, and that work has admittedly not been completed within the time mentioned subsequently also, we are of the view that this bench has jurisdiction to deal with the issues transacted during the CIRP. As to Hon'ble Supreme Court ratio in that case is that subject matter falling under other enactments cannot be nullified by invoking either Section 238 of IBC or section 14 IBC (Moratorium). In this case, it is not a subject matter falling ..... X X X X Extracts X X X X X X X X Extracts X X X X
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