9911796707
TMI Blog2025 (3) TMI 912X X X X Extracts X X X X X X X X Extracts X X X X ..... ers - takeover and liquidation of properties allowed - HELD THAT:- It would be appropriate to direct the appellants to approach the learned Single Judge seeking their impleadment in the underlying writ petition and simultaneously file an appropriate application seeking recall/clarification/modification or review of the impugned order dated 22.10.2024 so as to enable the learned Single Judge to re-consider the grievances raised by the appellants after giving due opportunity to them. 10 days time granted for the appellants to file their impleadment applications and any other appropriate application, if so advised, in the underlying writ petition pending before the learned Single Judge. The learned Single Judge is requested to take up the app ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... derlying writ petition bearing W.P.(C) 174/2024 whereby the learned Single Judge has allowed the proposal filed by respondent no. 3 - Mr. Pradeep Kumar Kaushik, the functus officio ex-Interim Resolution Professional (IRP) in Corporate Insolvency Liquidation Process (CIRP) of M/s. Three C Shelters Pvt. Ltd. to take over the property located at Hotel Plot bearing no.A-3a, Phase II, Distt. Central, Nehru Place, New Delhi (which is otherwise claimed to be owned and in exclusively possession of the appellant in LPA No. 1097/2024 - M/s. Lavender Infraprojects Pvt. Ltd.) and Units in the Project Ace Palms Floors, Sector-89, Gurgaon (claimed to be owned and in possession of the appellant in LPA No. 1098/2024-Bright Buildtech Pvt. Ltd.), to responde ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed sale of such properties. Moreover, contrary to the judgement of the Supreme Court in Embassy Property Developments Private Limited vs. State of Karnataka & Ors., (2020) 13 SCC 308, the IRP, who had become a functus officio, is brazenly attempting to take possession of the properties belonging to the appellants (M/s. Bright Buildcon Pvt. Ltd. and M/s. Lavender Infraprojects Pvt. Ltd.) without following any procedure prescribed under the Insolvency and Bankruptcy Code, 2016. The Supreme Court while examining the provisions of Section 20 (1) of IBC, and as to whether an asset owned by a third party but which is in the possession of Corporate Debtor under contractual arrangements, has observed that such asset is specifically kept out of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... h Kumari (supra) has given a contrary observation to the one given in the impugned ex-parte order. 5. Mr. J. Sai Deepak, learned senior counsel appearing for a group of homebuyers contends that none of these issues have been adverted to before the learned Single Judge by the appellants. He contends that none of the appellants have filed any application seeking impleadment nor have they filed any application seeking recall or review of the impugned order. In the absence of placing foundational facts before the learned Single Judge, this Court may not be in a position to appropriately appreciate any of the contentions raised by the appellants. Moreover, he submits that assuming there is contradiction in the order passed by the learned Single ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er qua the suit properties. Consequently, the appellants would also stand restrained from creating any third party right(s) or parting with the possession of the suit properties, which they claim, are in their possession. Further, they will not enter into any agreement(s) with any third party in respect of the suit properties till the next date." 9. Having considered the aforesaid facts and the arguments addressed, we are of the considered opinion that it would be appropriate to direct the appellants to approach the learned Single Judge seeking their impleadment in the underlying writ petition and simultaneously file an appropriate application seeking recall/clarification/modification or review of the impugned order dated 22.10.2024 so as ..... X X X X Extracts X X X X X X X X Extracts X X X X
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