In this NCLAT decision, the Tribunal affirmed its jurisdiction ...

Apartment Owners Association's Right to Take Over Maintenance from Corporate Debtor's Agency Upheld Under IBC Section 60(5)(c)

March 20, 2025

Case Laws IBC AT

In this NCLAT decision, the Tribunal affirmed its jurisdiction under IBC Section 60(5)(c) to adjudicate maintenance disputes during CIRP. The case involved Supernova Apartment Owners Association seeking to take over maintenance from YG Estates, an agency appointed by the corporate debtor. The Tribunal ruled that since CIRP had commenced against the corporate debtor, all assets including the Supernova project fell under IRP supervision. The registered association under the UP Apartment Act 2010 has statutory rights to assume maintenance responsibilities. YG Estates, merely an agency of the corporate debtor, cannot resist handover to a properly registered association. The NCLAT directed YG Estates to transfer maintenance to the association within seven days.

View Source

← Previous Next →

In this NCLAT decision, the Tribunal affirmed its jurisdiction ...

Apartment Owners Association's Right to Take Over Maintenance from Corporate Debtor's Agency Upheld Under IBC Section 60(5)(c)

March 20, 2025

Case Laws IBC AT

You may also like:

Suspension of some right against the Corporate Debtor under Section 14 shall not be construed as a right to the Corporate Debtor to take out the assets lying with others...

CIRP - Removal of the Leasehold Land from the pull of Assets of the Corporate Debtor - right to terminate the Lease Deed - the Appellant has never initiated any...

Right to claim over property occupied by the Corporate Debtor - Even though the object behind imposing moratorium under section 14 of IB Code, is to prevent depletion of...

Initiation of CIRP - Corporate Debtor unable to repay the amount - Non Performing Asset - Right of the Bank - In absence of any specific order of taking over the...

The Appellate Tribunal ruled that the Resolution Professional (RP) was entitled to possess the land admeasuring 10.81 acres, where the corporate debtor had constructed...

Corporate insolvency resolution process (CIRP) initiated against corporate debtor and corporate guarantor. Financial creditor granted loan to corporate debtor, secured...

CIRP - dues of EPF - The law as it exists today does not oblige the IRP/RP to send any information to any creditor or statutory authority even if the records of the...

Ex-parte order - Principles of Natural Justice - When Corporate Debtor is a Company where there are more Directors rather than only one as can be seen from the Balance...

CIRP proceedings - illegal transfer of IPR and business by the corporate debtor - the declaration of assignment of trademarks in the name of R1 is declared null and void...

Liquidation of Corporate Debtor - no resolution plan was received during the CIRP proceedings - The Adjudicating Authority has rightly observed that even after pushing...

Power of NCLT where CIRP stayed - Validity of Direction to the Resolution Professional to immediately handover the management of the Corporate Debtor to the...

Initiation of CIRP - the Corporate Debtor has tried to take advantage of their own wrong of being lackadaisical in reconciling the accounts in spite of nearly 30...

Sale of assets of Corporate debtors - Validity of order of NCLAT permitting the Private Sale of the composite assets of the Corporate Debtor instead of taking the Second...

Seeking approval of the Resolution Plan - The Resolution Applicant cannot be saddled with any previous claim against the Corporate Debtor prior to initiation of its CIRP....

The adjudicating authority has jurisdiction to cancel a registered General Power of Attorney (PoA) executed in favor of the appellant, who was a nominee of the corporate...

Quick Updates: