TMI Blog2021 (5) TMI 137X X X X Extracts X X X X X X X X Extracts X X X X ..... ndent could produce any supporting documents, i.e., list of inspection and/or list of inventory, etc., made during the time of taking possession. Further, it is also a matter of record that on a number of occasions, this Adjudicating Authority made observations/directions of the parties to produce inventories, if any prepared, but both sides have failed to produce. This Adjudicating Authority is not in a position to draw any conclusion. More so, when the applicant, by way of additional affidavit, submitted that except prayer at para E , as said above, other prayers need not be redressed. Hence, nothing remains in the instant application - Application not maintainable and is rejected. - IA 56 of 2020 in CP(IB) No. 206/NCLT/AHM/2018 - - ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r company, viz., M/s. Regent Granito (India) Limited 4. It is to be mentioned herein that the corporate debtor had hypothecated machineries to HFCL, one of its financial creditors, for availing financial assistance. 5. Since the Corporate Debtor defaulted in making repayment of the loan amount, HFCL and State Bank of India (another financial creditor of corporate debtor company) initiated proceeding under the provisions of the SARFAESI Act, 2002, i.e. filed an application before the Learned District Magistrate (DM), Himmatnagar, under Section 14 of the SARFAESI Act, 2002. That the Ld. DM had passed an order for taking possession of the secured assets of the corporate debtor. Hence, State Bank of India and HFCL conducted auction, but t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... withdrawn subsequently on 28.08.2020. Hence, the order passed by this Adjudicating Authority in IA No. 243 of 2019 reached its finality and conclusive, as such, the applicant had approached the RP to take physical possession of the machineries as mentioned herein above. 8. However, while conducting inspection of the machineries, the applicant found that certain parts of the machineries were found missing. Hence, filed this application with following prayers:- a) To allow the present application; b) To direct the Respondent to comply with the orders dated 19.12.2019 as placed at Annexure B ; c) To pass an order directing the Resolution Professional to allow the Applicant to dismantle and take possession of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s in presence of witnesses. Further, no inspection memo has been prepared by the applicant in presence of RP. 12. It is the duty of both sides to make inspection memo and also to prepare inventory at the time of taking over' or 'handing over' of the possession of the machineries, so as to compare the parts with the list which were prepared at the time of conducting inspection. However, the applicant has not produced inspection memo or any list of inventories of machineries duly executed by the person who facilitated the applicant for inspection and/or who has handed over the machineries, therefore, in absence of list of any such inspection/inventory of taking over or handing over the physical possession of the properties/mach ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r list of inventory, etc., made during the time of taking possession. Further, it is also a matter of record that on a number of occasions, this Adjudicating Authority made observations/directions of the parties to produce inventories, if any prepared, but both sides have failed to produce. 16. Under such circumstances, this Adjudicating Authority is not in a position to draw any conclusion. More so, when the applicant, by way of additional affidavit, submitted that except prayer at para E , as said above, other prayers need not be redressed. Hence, nothing remains in the instant application. However, it is the duty of RP, under Section 25 of the IB Code, to perform his duty diligently to avoid any kind of future dispute. Had there been ..... X X X X Extracts X X X X X X X X Extracts X X X X
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