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TMI Blog2024 (12) TMI 955X X X X Extracts X X X X X X X X Extracts X X X X ..... Mitra, Mr. Abhirup Dasgupta, Advocates for Applicant in IA No. 8241 of 2024 Mr. Aditya Diwan, Advocate for Intervenor. Mr. Pratyush Parasanna, Advocate in IA Nos. 8027, 8029, 8030, 8032, 8034, 8036, 8273 , 8028 and 8033 of 2024 Mr. Abhimanyu Bhandari, Sr. Advocate with Ms. Nattasha Garg, Advocate for Intervenor (IA No.7995, 8215 of 2024. Mr. Malak Bhatt , Advocate for Intervenor JUDGMENT ASHOK BHUSHAN, J. IA No. 7853 of 2024 IA No. 7853 of 2024 has been filed by the Applicant/ Appellant praying for following reliefs: "a) modify the Order dated 28.10.2024 passed by this Hon'ble Adjudicating Authority in the Company Appeal (AT)(lns) No. 2002 of 2024 to the effect that the CIR Process of the Corporate Debtor may be confined to the single Project namely 'Spaze Arrow' for which the Section 7 Petition was filed before the Ld. Adjudicating Authority and the Committee of Creditors be constituted for the said Project only; and b) such other and further orders be passed as facts and circumstances of the case may require." 2. Company Appeal (AT) (Ins.) No.2002 of 2024 has been filed by the Suspended Director of the Corporate Debtor - Spaze Towers Pvt. Ltd. challen ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... self, praying for reliefs as noted above. In IA No.7853 of 2024, learned Counsel for the Respondents took time to file reply to the Application, which was allowed on 21.11.2024. Reply has been filed by the Respondent, to which a rejoinder affidavit has also been filed by the Appellant in pursuance of the liberty granted on 28.11.2024. Several Intervention Applications have been filed by the allottees in the present Appeal, which shall be noticed hereinafter. 5. We have heard Shri Mukul Rohatgi, learned Senior Counsel appearing for the Appellant/ Applicant; Shri Abhijeet Sinha, learned Senior Counsel appearing for Respondent Nos.1 to 26 (Financial Creditors in a class); Shri Rishabh Jain, learned Counsel for Resolution Professional ("RP"); Shri Abhimanyu Bhandari, learned Senior Counsel appearing on behalf of Intervenor in IA Nos.7995 and 8215 of 2024; Shri Gaurav Mitra, learned Counsel appearing for Applicant in IA No.8241 of 2024; Shri Krishnendu Datta, learned Senior Counsel appearing in IA No.8253 of 2024 and other learned Counsel appearing for the Intervenors. 6. Shri Mukul Rohatgi, learned Senior Counsel appearing for the Applicant/Appellant submits that CIRP against the CD ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 019, vide which the construction of the troubled Project was halted and could not be completed by the CD. It is submitted that in 12 completed Projects, approximately 6700 units have been successfully constructed and out of total number of units, 6653 have been sold to third party allottees and in most of the cases, possession of the same have been either given or have been offered to the respective allottees. The troubled Project Spaze Arrow is also feasible and viable. 7. Shri Abhijeet Sinha, learned Senior Counsel appearing for Respondent Nos.1 to 26 (the Financial Creditors in a class), who initiated proceedings, submits that the prayer made in the Application, cannot be granted. It is submitted that the CD abandoned the Project Spaze Arrow and according to own case of the Appellant/ Applicant, due to dispute raised by the land owners and due to interim orders passed against the CD, the Project could not be completed. It is submitted that in pursuance of the order dated 21.10.2024 passed by Adjudicating Authority, the IRP has already issued publication, in pursuance to which Committee of Creditors ("CoC") has already been constituted, which consist of 100% creditors in a class ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... which the CD has no right to carry out any work in pursuance of Collaboration Agreement. The CD has unsuccessfully challenged the Arbitral Award dated 14.09.2022 by filing Section 34 Application, under Arbitration and Conciliation Act, 1996, which has also been dismissed. It is submitted that CD has no right to carry out any construction on the Project land, which is undisputedly owned by Ishan Singh. It is submitted that the Appellant has concealed various relevant facts in the Appeal and the IA. It is submitted that CD was also earlier subjected to CIRP by an order passed by Adjudicating Authority on Applications filed by allottees of Project 'Spaze Corporate Park', which ultimately was settled by the CD before the Hon'ble Supreme Court. The Appellant has made various false averments and there are huge dues of DTCP on the CD, which have not yet been paid. 9. Large number of Intervention Applications have been filed in the Appeal by several unit holders of Project 'Spaze Corporate Park' like IA No.8024 of 2024 and IA No.8021 of 2024 - Vandana Raheja and 33 others, who had earlier filed Section 7 Application against the CD being CP(IB) No.889 of 2020, which was admitted on 28.10. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ils 2. Name of the Project Corporate Parkk [Commercial] Address Located at Sector 69, Gurugram, Haryana OC 28.01.2020 CC 25.06.2021 RERA Registration Regd. No.393 of 2017 -MEMO No. HRERA- 188/2017/2527 I-TECH PARK S. No. Particulars Details 3. Name of the Project I-Tech Park [Commercial] Address Located at Sector 49, Gurugram, Haryana OC 11.03.2013 BOULEVARD-I S. No. Particulars Details 4. Name of the Project Boulevard - I [Commercial] Address Located at Sector 47, Gurugram, Haryana OC 27.07.2020 RERA Registration Regd. No.04 of 2018 - MEMO No. HRERA/178/2018/27 BOULEVARD-II S. No. Particulars Details 5. Name of the Project Boulevard - II [Commercial] Address Located at Sector 47, Gurugram, Haryana OC 27.07.2020 RERA Registration Regd. No.387 of 2017 - MEMO No. HRERA/178/2017/2459 PLATINUM -II S. No. Particulars Details 6. Name of the Project Platinum Tower [Commercial] Address Located at Sector 47, Gurugram, Haryana OC 02.03.2015 SPAZE PLAZO S. No. Particulars Details ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... shafts from the roof top. An un-editable compact disc/ DVD/ any other electronic media containing all photographs shall also be submitted. (iv) Completion certificate from Bureau of Energy Efficiency (BEE) Certified Energy Auditor for installation of Rooftop Solar Photo Voltaic Power Plant in accordance to orders/ policies issued by the Renewable Energy Department from time to time. (v) Completion Certificate from HAREDA or Bureau of Energy Efficiency (BEE) Certified Energy Auditor for constructing building in accordance to the provision of ECBC, wherever applicable. (vi) No Objection Certificate (NOC) of fire safety of building from concerned Chief Fire Officer or an officer authorized for the purpose. (2) No owner/ applicant shall occupy or allow any other person to occupy new building or part of a new building or any portion whatsoever, until such building or part thereof has been certified by the Competent Authority or by any officer authorized by him in this behalf as having been completed in accordance with the permission granted and an 'Occupation Certificate' has been issued in Form BRVII. However, Competent Authority may also seek composition charges of compoun ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... aring. Further, if it is emerged that the information is concealed by Engineer/ Consultant/ Owner, necessary penal proceedings will be initiated along with debarring Engineer/ Consultant/ Architect from practicing in the State of Haryana." 13. The 'Completion Certificate' is dealt in The Haryana Development and Regulation of Urban Areas Act, 1975. Rule 16 deals with 'Completion Certificate/ Part Completion Certificate', which is as follows: "16. Completion certificate/Part Completion Certificate [Section 24].- 139[(1) After the colony has been laid out according to approved layout plans and development works have been executed according to the approved designs and specifications, the coloniser shall make an application to the Director in Form LC-VIII alongwith a demand draft on account of Infrastructure Augmentation Charges as per the rates prescribed in the Schedule-B of these rules if not paid earlier in accordance with the provision of Section 3(7) of the Act.] (2) After such [scrutiny], as may be necessary, the Director may issue a [completion certificate/part completion certificate] in form LC-IX or refuse to issue such certificate stating the reasons for such refusal: ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Park was obtained on 28.01.2020 and Completion Certificate was obtained on 25.06.2021. It is on the record that Company Petition No. IB 889/ND/2020 was filed by Vandana Raheja and 39 Ors. of "Project Corporate Park", which was admitted by NCLT, New Delhi, Court No.IV by order dated 28.10.2021. Thus, the CIRP against the CD commenced on 28.10.2021, i.e., subsequent to Occupancy Certificate or Completion Certificate as was obtained by the CD for Project Corporate Park. Against the order dated 28.10.2021, an Appeal was filed before this Tribunal, in which no interim order was passed. Hence, Civil Appeal No.6798 of 2021 was filed before the Hon'ble Supreme Court, challenging order of this Tribunal, which Appeal was disposed of on account of settlement between the contesting parties. The order of the Hon'ble Supreme Court dated 18.11.2021 passed in Civil Appeal No.6798 of 2021 has been brought on record as Annexure-E to the reply filed by Respondent Nos.1 to 26. 16. With regard to Project Corporate Park, IA No.8024 of 2024 and IA No.8021 of 2024 was filed by Vandana Raheja and Ors., who had earlier initiated Section 7 Application against the CD in CP(IB) No.889 of 2020. The Applicant - ..... X X X X Extracts X X X X X X X X Extracts X X X X
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