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TMI Blog2022 (6) TMI 721X X X X Extracts X X X X X X X X Extracts X X X X ..... nt/ Liquidator stated that he has implemented the Order of this Tribunal dated 20th July, 2021 with respect to Liquidation Process from the date of passing of status quo order - Further, it is sated that the Respondent/ Liquidator does not have possession or control over the disposed asset of the Corporate Debtor. The Appeal has been filed much later to the sale certificate issued to the auction purchaser and the Applicant has not impleaded the auction purchaser as a party to the proceedings and the status quo order will not be applicable to the auction purchaser and this Tribunal cannot desist the auction purchaser from proceeding with the property which he is in possession in accordance with law, therefore, this Tribunal is of the view that the Respondent has not violated the order of this Tribunal dated 20th July, 2021 nor committed any contempt of this Tribunal - this Tribunal comes with a resultant and irrefutable conclusion that there is no disobedience of the Order of this Tribunal and the Contempt Application filed by the Applicant is frivolous and wasting the precious time of this Tribunal. Contempt application dismissed. - Contempt Application No. 1 of 2021 IN Com ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ther dismantling and lifting of the plant and machinery from the premises of the Corporate Debtor. 7. It is submitted that the Applicant was informed that the Liquidator has refused to halt the dismantling and lifting of the plant and machinery from the premises of the Corporate Debtor on the flimsy and frivolous ground that the liquidator has already proceeded to confirm the sale and has issued sale certificate and as such lost possession and control over the said plant and machinery of the Corporate Debtor. 8. The Applicant also sent a mail dated 23.07.2021 seeking a compliance of the Order dated 20.07.2021 passed by this Tribunal. However, the Liquidator refused to halt any works in premises of the CD on the pretext that the Order does not operate on the auction purchaser from lifting and dismantling the plant and machinery and the Liquidator has no control or possession of the said plant and machinery. 9. It is submitted that the Liquidator is acting contemptuously with the entire object of rendering the order passed by this Tribunal as infructuous. In view of the reasons, the Learned Counsel prayed this Bench to direct the Liquidator to immediately comply with the dir ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and the expected return from them is much higher than the actual amount offered by the Applicant herein. 13. It is submitted that the Liquidator herein could fetched Rs. 6,00,00,000/- from sale of plant and machinery and land and building respectively thereby maximising the value of the Corporate Debtor. The e-auction conducting on 08.05.2021, M/s Umang Enterprises was declared as a successful bidder for the plant and machinery with a bid of Rs. 3,56,00,000/- and the said auction purchaser paid the entire bid amount as per terms and the Sale certificate was issued on 03.06.2021. The physical possession of the said plant and machinery was handed over to the auction purchaser on 03.06.2021. The applicable GST of Rs. 64,08,000/- was also paid on 19.07.2021. Thus, the auction purchaser became owner of the property with the conclusion of the sale process. The Respondent without having possession could not exercise any right or control in respect of the property and he could not issue any direction or restrain the purchaser from exercising his rights in respect of his own property. 14. It is submitted that this Respondent came to know about the status quo order passed by this Trib ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... bunal had afforded opportunity to the Respondent to file their Response to the Contempt Application and the Contempt Application has been heard both sides and reserve for Orders. This Tribunal extended the Interim Order dated 20th July, 2021 till 05.07.2022. 21. The Respondent filed Counter Affidavit and denied all the allegations made by the Applicant in this Contempt Application. From the records it is evident that Second e-auction sale notice was issued on 08.04.2021 for sale of assets of CD as a going concern as well as on piecemeal basis under different options and the said second e-auction was held on 08.05.2021. After the process M/s Umang Enterprises was declared as a successful bidder for the plant and machinery with a bid amount of Rs. 3,56,00,000/- and the entire bid amount has been paid as per terms and conditions of the process document and the sale certificate was issued on 03.06.2021. It is also borne out from the records that the physical possession of the said plant and machinery was handed over to the auction purchaser (M/s Umang Enterprises) on 03.06.2021. Once the Sale Certificate has been issued the auction purchaser becomes the owner of the property. After ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ould also be satisfied that such disobedience was wilful and intentional. 24. In this context the Hon ble Supreme Court in the matter of Rama Narang vs. Ramesh Narang Ors (2021 SCC Online SC 29 Para 79 held as under :- It has been held, that is why the framers of the Act while defining civil contempt, have said that it must be wilful disobedience of any judgment, decree, direction, order, writ or other process of the Court. It has been held, that before punishing the contemnor for non-compliance of the decision of the Court, the Court must not only be satisfied about the disobedience of any judgment, decree, direction, writ or other process but should also be satisfied that such disobedience was wilful and intentional. 25. As held Supra, this Tribunal comes with a resultant and irrefutable conclusion that there is no disobedience of the Order of this Tribunal and the Contempt Application filed by the Applicant is frivolous and wasting the precious time of this Tribunal. 26. Accordingly, the Contempt Application No. 01 of 2021 is dismissed with a cost of Rs. 50,000/- to be paid to the Hon ble Prime Minister s Relief Fund within a period of one month from the date o ..... X X X X Extracts X X X X X X X X Extracts X X X X
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