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2022 (4) TMI 886 - AT - Insolvency and BankruptcySeeking to transfer the plot in question in the name of auction purchaser - recovery of any of its prior dues, it may prefer its claim in appropriate Form before the Liquidator - HELD THAT:- Insofar as the dues of the Appellant of ₹ 40,50,108/- (claimed As ₹ 41,43,922/- in Appeal), learned Counsel for the Appellant submits that in respect of the said dues, the Appellant is to take steps as permitted by the Adjudicating Authority in the impugned order by filing claim before the Liquidator. Parties are ad idem on the question with regard to prior dues of the Appellant in respect of the Plot, the same cannot be put as a condition for transfer of the Plot. However, the transfer of Plot is to be considered by the Appellant as per the terms and conditions of the Transfer Policy of March 2009, which has been brought on record along with the Appeal paper-book. The order of NCLT allowing the Application filed by the Liquidator regarding transfer of Plot in favour of auction purchaser does not obviate the consideration of transfer of Application as per the existent Policy namely the Policy & Procedure for Institutional Property Management – March, 2009. The Adjudicating Authority ought to have issued direction to consider the Transfer Application for transferring the auctioned Plot in accordance with the existent Policy - the direction of the Adjudicating Authority issued in paragraph 8(a) has to be read to mean that Adjudicating Authority directed the Appellant to consider the transfer of the Plot and expression “shall transfer” need not be read to mean that the Appellant has to transfer the Plot without the Respondent complying with the requirements of the Transfer Policy. The Application dated 16.02.2022 filed by the Respondent in terms of existent Transfer Policy be considered by the Appellant on merits in accordance with law - Appeal disposed off.
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