TMI Blog2021 (8) TMI 613X X X X Extracts X X X X X X X X Extracts X X X X ..... standi and accordingly he cannot seek the sale of the property to the Appellant only. The Appellant is reagitating the same matter in different rounds before the Adjudicating Authority. The Code provides for time bound resolution and if such frivolous actions are allowed, it will be never ending process to complete the liquidation. The Appeal is not maintainable and deserves to be dismissed and is accordingly dismissed. - Company Appeal ( AT ) ( Insolvency ) No. 204 of 2021 - - - Dated:- 13-8-2021 - [Justice Jarat Kumar Jain] Member (Judicial) And (Dr. Ashok Kumar Mishra) Member(Technical) For the Appellant : Mr. Saurabh Jain, Advocate For the Respondent : Mr. Ankit Sharma (Intervenor for SBI) Ms. JVL Bharti, Mr. Naren Shet ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (CIRP) of the Corporate Debtor Cimme Jewels Limited (Mumbai) (CJL) which was admitted by the Adjudicating Authority on 18.04.2018. Mr. Naren Sheth was appointed as Resolution Professional (RP) for the Corporate Debtor in the Committee of Creditor (CoC) meeting held on 08.06.2018. CoC resolved with 100% majority to liquidate the Corporate Debtor and the Adjudicating Authority vide its order dated 25.03.2019 passed the Liquidation Order for the corporate debtor and appointed the RP as the Liquidator (Annexure A-4 page 42 of the Appeal Paper book). b. The Appellant is leave and license holder for the period 01.04.2016 to 31.03.2019 of the premises - situated at Plot No. 71, MIDC Cross Road C, SeePZ Gate No.2, Andheri East ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is Appellate Tribunal vide its order dated 17.03.2021 asked the Appellant to pay an amount of ₹ 10 lac on account of outstanding liability of rental dues admittedly not been paid since January, 2020. As per the Leave License Agreement between the Appellant and Corporate Debtor, as stated above, the license fee per month is ₹ 2,18,900/-, apart from maintenance charges, electricity charges and for other expenditure etc., as mentioned in the agreement. The Appellant has made the submission that it is only proposed buyer for the premises. The real estate prices have come down drastically after Covid-19 Pandemic and accordingly the Liquidator is required to obtain fresh valuation report of the premises. They have also stated that ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the rent since January 2020 and only on the order 17.03.2021 of this Appellate Tribunal, they have remitted ₹ 9.25 lacs. The Liquidator has sent them email on 21.12.2019 for handing over the said premises to the Liquidator but the Appellant vide letter dated 21.12.2019 had sought two months time from the Liquidator to vacate the said premise which they have still not done. The Liquidator, thereafter, filed an IA for passing an order for handing over the premises to the Liquidator and then on 05.02.2021, the order has been passed which is under challenge. The Liquidator has also stated that the Appellant is just misusing the process of law and accordingly the Appeal is not maintainable. 6. We have gone through the submissions of the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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