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IBC - Highlights / Catch Notes

Home Highlights December 2023 Year 2023 This

CIRP - The Kolkata Municipal Corporation who is owner of the ...

Insolvency and Bankruptcy

December 27, 2023

CIRP - The Kolkata Municipal Corporation who is owner of the premises by Development Agreement gave right of development of the premises to the Respondent No.1 and Respondent No.1 has unauthorisedly without prior approval of the Appellant as alleged Assignment Agreement dated 06.03.2008 has given to the Corporate Debtor. - In event, the Respondent No.1 illegally transferred the possession to Respondent No.2 contrary to the Development Agreement for protection of such possession, Section 14(1)(d) cannot be relied on. - Termination of Development Agreement allowed - AT

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