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TMI Blog2021 (4) TMI 17X X X X Extracts X X X X X X X X Extracts X X X X ..... actual physical occupation of the property and not right or interest created in such property . A bare reading of this provision reveals that the order of moratorium takes effect from the insolvency commencement date which, as defined under Section 5(12), means the date of admission of an application for initiating CIRP by the Adjudicating Authority under Section 7, 9 or 10 of the I B Code. It lasts till completion of CIRP. Under Section 12 of I B Code the time limit for completion of CIRP is provided as 180 days from the date of admission of application to initiate such process which can be extended for a further period not exceeding 90 days but has to be mandatorily completed within a period of 330 days from the insolvency commencem ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... esolution Professional of the Corporate Debtor M/s Arudaavis Labs Pvt. Ltd. to handover vacant possession of the leased out premises to the Respondent besides claiming lease rental. By virtue of impugned order dated 4th November, 2020, the Adjudicating Authority (National Company Law Tribunal) Special Bench, Chennai allowed the application directing the Resolution Professional to vacate and handover the possession of land and building measuring 95 Cents and 10,504/- sq.ft. respectively comprised in survey no. 105/3C, 105/3D, 105/7B and 105/6B at Chennivakkam Village, Ponneri Taluk, Tiruvallur District to Respondent within 30 days starting from 5th November, 2020. Respondent was given liberty to file claim application within 30 days for ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... premises for storing his future paddy stock. The Appellant contested the application on various grounds though the factum of admission of claim of Respondent to the tune of ₹ 66,79,260/- on account of rental arrears was admitted. It was pleaded that the Lease Deed initially executed in year 2011 was renewed on 23rd November, 2013 for 11 months with effective lease period starting from 1st June, 2013 and after completion of 11 months the lease was not renewed further. It was further pleaded that moratorium had come to an end on the date of approval of Resolution Plan or Liquidation Order and as such Respondent could submit the claim only when Liquidation Process was initiated. In rejoinder, Respondent submitted before the Adjudicating ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... property the same cannot be recovered by the Owner or Lessor. It is further submitted that the application filed by the Respondent was premature as moratorium continued to be in effect and neither any Resolution Plan had been approved for the Corporate Debtor nor had the Corporate Debtor been sent into liquidation. 4. Per contra it is contended by learned counsel for Respondent that the CIRP period of Corporate Debtor expired on 26th January, 2020 and no application was filed by the Resolution Professional for extension of CIRP period. It is further submitted that the CoC in its sixth meeting held on 20th January, 2020 resolved to liquidate the Corporate Debtor. The application for liquidation of Corporate Debtor was filed on 14th Februa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ease hold property of a Landlord in which the Corporate Debtor is a tenant, particularly after decree of eviction passed in favour of the land lord against the Corporate Debtor. The finding recorded is unambiguous and lucid. The recovery of property by the Owner/ Landlord occupied by the Corporate Debtor is not permissible during the period of moratorium. 7. In Rajendra K. Bhutta vs. Maharashtra Housing and Area Development Authority , Civil Appeal No.12248 of 2018, the Hon ble Apex Court was dealing with the issue whether Section 14(1) (d) of the I B Code would apply to statutorily freeze occupation that may have been handed over under a Joint Development Agreement. After taking note of the judgments rendered in Municipal Corporation ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on of corporate debtor under section 33, the moratorium shall cease to have effect from the date of such approval or liquidation order, as the case may be. 10. A bare reading of this provision reveals that the order of moratorium takes effect from the insolvency commencement date which, as defined under Section 5(12), means the date of admission of an application for initiating CIRP by the Adjudicating Authority under Section 7, 9 or 10 of the I B Code. It lasts till completion of CIRP. Under Section 12 of I B Code the time limit for completion of CIRP is provided as 180 days from the date of admission of application to initiate such process which can be extended for a further period not exceeding 90 days but has to be mandatorily com ..... X X X X Extracts X X X X X X X X Extracts X X X X
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