9911796707
TMI Blog2022 (12) TMI 662X X X X Extracts X X X X X X X X Extracts X X X X ..... dated 31.03.2022 passed by the Adjudicating Authority (National Company Law Tribunal, Ahmedabad, Court No. II) by which an application bearing I.A. No. 676/AHM/2021 filed by the Appellant in CP (IB) 127/AHM/2017 under Section 60(5) of the Insolvency and Bankruptcy Code, 2016 (In short 'Code') seeking certain reliefs against the Rajasthan State Industrial and Investment Corporation (RIICO) has been dismissed. 2. Briefly stated, RIICO allotted institutional land admeasuring 5,740 square meters situated on plot no. CC-11, Industrial Area Neemrana, Alwar to Neesa Leisure Ltd. vide allotment letter dated 11.07.2007 and executed a lease deed on 21.06.2008. The RIICO also issued no objection certificate (NOC) to the Neesa Leisure Ltd. (Corporate ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... CRE against the order dated 03.06.2019 before the Chairman, RIICO which was dismissed on 30.07.2021. 8. ACRE filed an application under Section 7 of the Code before the Adjudicating Authority against the Corporate Debtor which was admitted on 26.04.2019. R.D. Chaudhary was appointed as IRP. However, in the second meeting of the Committee of Creditors (CoC) held on 24.10.2019. R.D. Chaudhary was replaced by Mr. Amit Jain who was appointed as the RP and was confirmed by the Adjudicating Authority on 17.12.2019. Various resolution plans were submitted by the prospective resolution applicants which were discussed and negotiated in the 12th, 13th and 14th CoC meetings but in the 14th CoC meeting, held on 19.10.2020, the CoC approved the final r ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Corporate Debtor as per which the possession of the hotel handed over to it for its operation for a period of seven years commencing from 01.04.2017 to 31.03.2024. It is alleged that RIICO had taken over the possession of the property in question on 20.09.2021. As a matter of fact, the Appellant has prayed for repossession. 11. On the other hand, RIICO has taken a stand that the Appellant has no locus standi to file application because RIICO has never entered into an agreement with the Appellant and that the action taken by RIICO was against the Corporate Debtor for the breach of terms and conditions of the lease deed and if the Appellant was aggrieved of loss caused then it may register its claim with the RP but cannot claim its damag ..... X X X X Extracts X X X X X X X X Extracts X X X X
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