9911796707
TMI Blog2022 (6) TMI 589X X X X Extracts X X X X X X X X Extracts X X X X ..... ctions to the 2nd and 3rd respondent restraining and restricting them from taking any further act of recovery proceedings against the Schedule mentioned Property purchased by the Applicant. c) Direct the 2nd and 3rd respondents restraining them from causing any hurdle for the functioning of the factory at the schedule mentioned property. d) Pass appropriate orders directing the 1st respondent to handover the Schedule mentioned property encumbrance free to the Applicant. e) And pass such other order, orders, direction, directions that this Tribunal may deem fit proper and thus render Justice. 1.2. It is averred in the application that the Applicant is the purchaser of the schedule mentioned properties (hereinafter referred to as 'the Properties') of the Corporate Debtor in accordance with the letter of intent for sale dated 21.01.2020, issued by the 1st Respondent. 1.3. It was further averred that pursuant to the above-said letter the Applicant had paid the entire sale consideration of Rs. 10,83,60,000/- and the purchase agreement dated 15.03.2021 was entered into between the Applicant and the 1st Respondent. Thereafter, the 1st Respondent came forward to execute a s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mpany Law Tribunal Rules 2016 by the Liquidator of the Corporate Debtor viz. Auro Mira Biopower India Limited seeking relief as follows, a) Direct the 1st Respondent and the 2nd Respondent to raise/life the de-facto attachment created vide letter bearing reference number Na. Ka. No. A5/2605/2019 dated 23.12.2020, over the Immovable Property of the Corporate Debtor admeasuring of 8 Hectares and 95 Ares i.e., 22.11 Acres as per Patta 25.66 Acres and comprised in various Revenue Survey Numbers of Melamaruthappapuram Village, Veera Keralapudur Taluk, Tenkasi District, Tirunelveli, Tamil Nadu within the Registration District of Tenkasi and Sub Registration District of Uthumalai; b) Direct the 3rd Respondent to register the Sale Deed dated 12.02.2021 executed between the Corporate Debtor and the 4th Respondent within such time as may be fixed by this Hon'ble Tribunal; and c) pass any such other order/direction as deemed appropriate in the fact and circumstances of this case. 2.2. It was averred in the application that CIRP in respect of the Corporate Debtor has been initiated on 01.09.2017; consequently moratorium period has been commenced on the same day. Since no viable reso ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed by the Corporate Debtor for the period between July 2011 and March 2014. The 2nd Respondent was directed by the 1st Respondent to collect the said amount as arrears of land revenue under Section 7(1)(b) of the Tamil Nadu Tax on Consumption or Sale of Electricity Act, 2003. In view of the above, the 3rd Respondent refused to register the sale deed dated 12.02.2021 and demanded a No Objection Certificate from the 1st and 2nd Respondent. 2.9. It was further submitted that the Applicant has not received any proof of claim from the 1st & 2nd Respondent till date. Moreover, no legal attachment has been created on the Property and no charge has been reflected in the Encumbrance Certificate. 2.10. It was further submitted that the de facto attachment created by the 1st and 2nd Respondents on 23.12.2020 for the arrears of tax is also after the Liquidation ordered by this Tribunal on 16.07.2018. It was further argued that to the effect of the liquidation order passed, it would result in a moratorium on initiation and continuation of legal proceedings against the Corporate Debtor. 2.11. It was further submitted that Section 36(3)(b) of the Insolvency and Bankruptcy Code, 2016, even if t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... take private notice to the Respondents. Complying the same, Affidavits of Service dated 27.07.2021 and 19.11.2021 has been filed by the Applicant, even at the last chance of hearing on 10.01.2022 1st, 2nd and 3rd respondents in IA/241/2021 had not entered their appearance. 7. Considering the facts and circumstances of the case, in light of the above observations, this Adjudicating Authority is of the considered opinion that the Sub Registrar of Uthumalai's demand of No Objection Certificate from the Tahsildar, Veerakeralampudur for registering the sale deed dated 12.02.2021 entered into between Sri Gomathi Energy (P) Ltd. and the Liquidator of the Corporate Debtor, reasoning alleged de facto attachment made on the Property is unjustifiable at this stage of Liquidation. Moreover, the Property sold to the Sri Gomathi Energy (P) Ltd. was in accordance with the provisions of the Insolvency and Bankruptcy Code, 2016. 8. However, we fail to appreciate the prayer of Sri Gomathi Energy (P) Ltd. in the Application IA/1005/2021 seeking directions against the 2nd and 3rd Respondents therein restraining and restricting them from taking any further act of recovery proceedings against the ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
