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2021 (9) TMI 790 - Tri - Insolvency and BankruptcyJurisdiction - Power of Tribunal to order registration of transfer of shares held by Corporate Debtor - e-auction - HELD THAT:- It is trite law, that the claims/dues of R1 society pertaining to the preadmission of CIRP, had to be filed before the Applicant and if these claims were not filed with the Applicant and these are not realizable unless the claims are filed with the Applicant. Be that as it may, the R1 society cannot exercise any lien/create encumbrance on the said property as the said property has been sold by way of e-auction and the rights of title/ownership/possession has been passed on to the R3 vide a Registered Sale Deed executed on 10.03.2021. This Bench is of the considered opinion that the property has been validly transferred to the R3 vide Registered Sale Deed dated 10.03.2021 and that the R1 cannot link granting of NOC to its past dues. The transfer of property act contemplates transfer of title/ownership/possession, there can be no fetters attached to such transfers which have been conducted by a process of e-auction and it is held in catena of judgments that the claim of dues of the society amounts to be an Operational Debt and cannot be linked or claimed from the third party bonafide purchaser. Respondent No. 1 is directed to transfer shares of Corporate Debtor in favour of Respondent No. 3 and grant NOC in favour of Respondent No. 3 - Respondent No. 1 is directed to file its claims/dues of Respondent No. 1 society to the Applicant forthwith - application allowed.
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