Home Case Index All Cases Insolvency and Bankruptcy Insolvency and Bankruptcy + HC Insolvency and Bankruptcy - 2020 (8) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2020 (8) TMI 399 - HC - Insolvency and BankruptcyPermission to hand over the title documents and possession of the suit property - initiation of CIRP - satisfaction of the entire debt of the plaintiff, as per Resolution Plan - HELD THAT:- Consequent to the aforesaid approval of the Resolution Plan by the learned NCLT, APPL infused ₹ 265 crores in Defendant No. 3, towards the payment of various costs and expenses and towards a one-time settlement of all claims and unclaimed debt against the corporate debtor. Consequent to the receipt of the said amount, the applicant/Defendant No. 2 issued a “No Dues Certificate” on 24th July, 2020. In terms of the resolution plan, Defendant No. 3 also paid all amounts due to the plaintiff, in the account of the applicant, in its name and trust, and a “No Dues Certificate” also stands issued by the plaintiff, in acceptance thereof. This fact is accepted by Mr. Manu Nair, learned counsel appearing for the plaintiff, who submits that the grievances, in the plaint, thereby stand redressed. The present application has been moved by the applicant, for permission to hand over the title documents and possession of the suit property, i.e. Plot No. 3, Bhagwan Das Road, New Delhi – 110001, to Defendant No. 3, i.e. M/s. Aditya Estates Private Limited. - Application allowed.
|