9911796707
TMI Blog2021 (9) TMI 790X X X X Extracts X X X X X X X X Extracts X X X X ..... . ("Corporate Debtor") under the Insolvency & Bankruptcy Code, 2016 ("IBC") was commenced on 28.11.2019. 2. The Applicant was appointed as the liquidator of the Corporate Debtor ("Liquidator") on 03.11.2020, the Liquidator invited the claims as per the provisions of the IBC read regulation 12 of the Insolvency & Bankruptcy Code (Liquidation Process) Regulations, 2016 ("IBBI Liquidation Regulations"). 3. On 07.12.2020, the Respondent No. 1/Floral Deck Plaza Premises Coop. Society Ltd filed its claim in Form C for INR 17,34,976 (Indian Rupees Seventeen Lakhs Thirty-Four Thousand Nine Hundred and Seventy-Six Only) as Operational Creditor. The claim of the Respondent No. 1 as the operational creditor was admitted by the Liquidator on 11.12.20 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . 8. On 17.03.2021, the Respondent No. 3 requested the Respondent No. I to issue a no-objection certificate ("NOC") for electricity meter, etc. for starting his business activity from the Andheri Property. 9. However, the Respondent No. 1 has refused to issue any NOC to the Respondent No. 3 due for non-payment of past dues by the Corporate Debtor. 10. The Applicant/Liquidator sought for the following prayer; a. To direct the Respondent No. 1 to register the transfer of shares in respect of Andheri Property from the Corporate Debtor to the Respondent No. 3 as per applicable laws and not to link to the nonpayment of dues by the Corporate Debtor. Reply filed by Respondent No. 1 11. The Respondent submit that the application is based on ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e of action to file the present application. The R1 has not filed any claim in Form C to the applicant. 15. The competent forum for adjudication, the Disputes between the R1 and R3 is Maharashtra Co-operative Act Society, 1960. Therefore, this Tribunal does not the jurisdiction to entertain or grant any relief with regard to the present disputes. Rejoinder 16. After the liquidation order of the Corporate Debtor, when the representative of the Liquidator visited the impugned office, the manager of the society, viz. Mr. Vishal Kamble contacted the Liquidator for past dues. Accordingly, the manager of the Respondent No. 1/society was informed about the provisions of the IBC through a detailed letter dated 26 November 2020 which was sent to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s appointed as Liquidator has called for claims and has received a claim from R1 society in Form C. further, the applicant vide e-auction sold the property owned by the Corporate Debtor vide office No. 514, 5th floor, Wing D, Florel Deck Plaza, Road No. 12, MIDC, Andheri East, Mumbai 400093, Maharashtra. The said property was also mortgaged in favour of SBI. 22. After the relinquishment of security interest by SBI, the applicant conducted e-auction of Andheri property, wherein R3 was declared as the successful bidder. The applicant executed Registered Sale deed in respect of the said property on 10.03.2021. The sale proceeds were further distributed to the secured creditor R2/SBI on 12.03.2021. 23. The applicant further informed the R1 so ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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. 27. This Court orders as follows; i. 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. ii. the Respondent No. 1 is directed to file its claims/dues of Respondent No. 1 society to the Applicant forthwith iii. t ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
