9911796707
TMI Blog2022 (4) TMI 881X X X X Extracts X X X X X X X X Extracts X X X X ..... ant cannot invoke Section 238 of IBC, 2016 or Section 60(5) of IBC, 2016 seeking directions against the Respondent to register the vehicle in their favour. Further, eventhough in the Application it has been averred that a charge has been created as against the said vehicles in the name of Cholamandalam Investment Finance Company, for the reasons best known to the Applicant, they have not impleaded the said Cholamandalam Investment Finance Company as party Respondent in the present Application. Since the name of Cholamandalam Investment Finance Company is reflected in the RC Book, all parties are aware of the charges at the time of auction - In the present case, since the property of the Corporate Debtor has been sold on 'as is where ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... bids was accepted and the 1st Respondent declared the Applicant as the successful bidder in respect of the vehicles and machineries. Immediately, thereof, it was submitted that the Applicant has paid the sale consideration of ₹ 9,00,000/- (Rupees Nine Lakh only) i.e. 25% of the Sale consideration as per the terms of the Auction sale within 24 hours and the remaining 75% of the sale consideration within fifteen days from the date of e-auction of sale confirmation. 3. The Learned Counsel for the Applicant submitted that the 1st Respondent has issued the sale certificate in the name of the Applicant after receipt of the full and final sale consideration and thereafter the applicant requested the liquidator to handover the RC books to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Learned Counsel for the Applicant submitted that the 2nd Respondent should not demand any pending road tax prior to the CIRP or liquidation process and also sought to direct the 2nd Respondent to issue duplicate RC book to the Applicant after entering the Applicant name. 6. The 1st Respondent has filed counter and it was submitted by the Learned Counsel for the 1st Respondent that the assets were sold as is where is and whatever there is and no complaint basis and it was also stated in the E-auction that out of 5 vehicles, 3 vehicles do not have the original RC Books and only xerox copies are available. Further, it was also placed on record that the 1st Respondent has also sent a letter to the 2nd Respondent that since 06.03.2019, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... licant cannot invoke Section 238 of IBC, 2016 or Section 60(5) of IBC, 2016 seeking directions against the Respondent to register the vehicle in their favour. 9. Further, eventhough in the Application it has been averred that a charge has been created as against the said vehicles in the name of Cholamandalam Investment Finance Company, for the reasons best known to the Applicant, they have not impleaded the said Cholamandalam Investment Finance Company as party Respondent in the present Application. Since the name of Cholamandalam Investment Finance Company is reflected in the RC Book, all parties are aware of the charges at the time of auction. 10. We find it apt to point out here that buying a property under Liquidation by way of E- ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
