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TMI Blog2024 (10) TMI 1409X X X X Extracts X X X X X X X X Extracts X X X X ..... K Sharma, Mr. Luv Virmani Mr. Jai Sikand, Advs. Mr. Shloka Chandra for applicant/GWC. Mr. Nalin Kohli, Sr. Adv. with Ms. Vijeta Singh Ms. Shruti, Advs. for IRP. DHARMESH SHARMA, J. (ORAL) CM APPL. 56263/2024 1. This application has been moved on behalf of the applicant/Greenopolis Welfare Confederation ( GWC for short) seeking to intervene in the present matter and become a party. 2. A copy of this application has been served upon the learned counsel for the petitioner. 3. Mr. Tanmaya Mehta, learned counsel for the petitioner submits that they have no objection if the said application is allowed. 4. In a nutshell, it is the applicant/appellant who has filed the civil appeal before the Supreme Court bearing CA APPL. No. 6792/2023 challenging the order dated 28.08.2023 passed by the NCLAT [National Company Law Appellate Tribunal] , and consequently, a direction has been passed by the Supreme Court vide order dated 13.10.2023 directing that status quo to be maintained by the parties including the assets . 5. Accordingly, the present applicant be impleaded as the respondent no. 4. Let an amended memo of parties be filed within four weeks. 6. The application is disposed of. The registry ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sult in several anomalies, the submission is also echoed by Mr. Nalin Kohli learned Senior Counsel for the IRP. 14. At this stage, it may be noted that Shri Sumesh Dhawan, advocate appearing for another applicant/intervenor Greenopolis Welfare Association (for short GWS ) opposes any further direction for rectification of the status of the company on the MCA website, which is baffling considering the plight of the homebuyers whose dreams for acquiring residential units in the projects launched by Three C Shelters Pvt Ltd. stands irreparably shattered. The plea raised seems to be prejudicial to the interests of the stakeholders including the creditors. 15. Incidentally, it may also be noted that even the learned counsel for the IBBI, which party stands impleaded in the present proceedings as the respondent no.3 in terms of the order dated 23.07.2024, also raises objection to any direction that may be passed to amend or modify the information/status on the MCA website on the premise that the Supreme Court has passed an order dated 13.10.2023 directing that status quo to be maintained by the parties including the assets. Evidently, the IBBI is not the appellate authority to entertain ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2.15 pm through VC. ROLE OF THE IRP 22. At this stage, Mr. J Sai Deepak, learned counsel for the newly added party viz. GWC, which is the appellant before the Supreme Court, has invited the attention of this Court to the direction contained in the paragraph no. 11 of the order dated 23.07.2024. 23. Mr. Kohli, learned senior counsel for the IRP submits that he may be given the liberty to file the updated status report with regard to the status of the assets including movable and immovable properties and affairs of the corporate debtor in a sealed cover. The same is allowed and it is directed that the same be kept in a sealed cover till further order. 24. Mr Kohli has placed a hard copy of a proposal on the record, thereby suggesting that the IRP may be allowed to act on certain aspects of the matters so as to take control of the assets of corporate debtors and thereby ensure that no assets of the company are wasted, disposed of to the detriment of the stakeholders. 25. It is urged by Mr. Kohli, learned senior counsel for the IRP that he has come to know of instances where the properties belonging to the corporate debtor are being sold or pilfered away which is detailed in the update ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... spect to such assets would entitle the IRP to take necessary action against the concerned persons. 6. Necessary steps to identify more assets, in addition to those which have already been identified in the Four Status Reports prepared by the IRP. Further taking steps to initiate action against the concerned persons who are indulged in diversion of assets and have entered upon sale deeds with respect to the laundered assets post 23.01.2019 [when these assets were dedicated for Greenopolis by Three C before Ld. HRERA] and 26.05.2023 [ wherein the Ld. NCLT directed verification of all claims and to prepare Status Reports]. 7. Taking over the books of accounts of Three C Shelters Pvt. Ltd which have been withheld from the IRP by the erstwhile management and the erstwhile suspended RP as also stated in the Status Report-2. 8. Getting a forensic audit by an independent private agency for each entity within the Three C group. Only through a thorough and impartial audit can the full scope of the fraudulent activities be exposed, ensuring accountability and revealing the true extent of the misappropriated monies hidden within the group's operations. 9. Filing a claim in the CIRP of Thre ..... X X X X Extracts X X X X X X X X Extracts X X X X
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