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2022 (8) TMI 764 - NATIONAL COMPANY LAW TRIBUNAL , MUMBAI BENCHSeeking to transfer the right, title and interest in subject properties and hand over vacant and peaceful possession in the subject properties to the Petitioner along with a Possession Letter - failure or negligence to execute the sale deeds in respect of the subject properties - execution of sale deeds conveying all right, title and interest in the Petitioner’s favour - seeking order and injunction restraining Respondent No. 1 from dealing with and/or creating any rights whatsoever (including parting with possession) over the subject properties - time limitation. HELD THAT:- The SICA Repeal Act came into effect on 01.12.2016 and the Petitioner was bound to file the Petition within 180 days from the same. Thus, the Petitioner is well in time and within limitation. It is pertinent to note that this Tribunal can invoke the provisions of Rule 11 of the NCLT Rules, 2016. The said inherent powers have been conferred over the Tribunal under Section 469 of the Companies Act, 2013. Hence, the Respondent No. 2 has failed to clarify the provision which debars the applicability of Rule 11 to Sections 424 and 434 of the Companies Act, 2013 - the repeal of SICA shall not affect the order of BIFR and thus the order dated 30.06.2016 shall stand confirmed as on today. It is important to take a note that in this case where the case has been decided by the Board, the Tribunal is not bound to adhere to Rules 21 to 26 of NCLT Rules, 2016, which deals with the manner and procedure in which the petition or application is ought to be drafted and filed. The Respondent had earlier stated that they shall resume with their role as an operating agency once the case is filed before the NCLT. However, now the Respondent has challenged the jurisdiction of the NCLT to entertain this Petition, claiming that the civil courts have the jurisdiction to entertain the same, thereby contradicting their own statement. This shows that the Respondent is unnecessarily trying to delay the process and mislead the authorities. Respondent No. 1 are directed to transfer the right, title and interest in subject properties to the Petitioner after duly executing the Conveyance Deed, hand over all the documents showing the prior ownership relating to the subject properties in original, give the proof of liabilities settled in respect of the subject properties including electricity, MIDC, Land Revenue, labour, telephone, water, Panchayat tax, arrears of property tax, etc and to hand over vacant and peaceful possession in the subject properties to the Petitioner along with a Possession Letter - petition allowed.
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