TMI Blog2022 (7) TMI 1348X X X X Extracts X X X X X X X X Extracts X X X X ..... this Tribunal in the present IA in as much as an appeal against the order dated 18.04.2022 initiating CIRP of the Corporate Debtor is under challenge before the Hon'ble NCLAT in SLB WELFARE ASSOCIATION VERSUS M/S PSA IMPEX PRIVATE LIMITED, M/S RUDRA BUILDWELL CONSTRUCTIONS PVT. LTD. [ 2022 (11) TMI 294 - NATIONAL COMPANY LAW APPELLATE TRIBUNAL , PRINCIPAL BENCH , NEW DELHI ] and is pending for adjudication. Further, there is no order of stay granted by Ld. Appellate Tribunal in the operation of CIRP of the Corporate Debtor or restraining the IRP to proceed with the CIRP. Moreover, it is the settled law that the provision under Section 238 IBC has overriding effect over the provisions of other legislations including provisions of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ct side being real estate project Sampada Livia situated at GH-06B, CHI- 05, Express Way, Greater Noida, Gautam Budh Nagar, Uttar Pradesh-201310 being an assets of the Corporate Debtor to the Applicant in terms of provisions of the Code. The Applicant has also sought directions to the Local District Administration under Regulation 30 of CIRP Regulation to provide necessary assistance to the Applicant for taking position of the project site. It is stated by Ld. Counsel appearing for the Applicant that, CIRP of the Corporate Debtor was commenced on 18.04.2022 and Mr. Prabhat Ranjan Singh was appointed as Interim Resolution Professional by this Adjudicating Authority. Thereafter, the Interim Resolution Professional took over the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he order initiating CIRP has been obtained by fraud and misrepresentation and IRP also has been appointed by the Operational Creditor in a fraudulent manner and therefore, prayed that the present application is liable to be dismissed. Mr. Abhishek Anand, Ld. Counsel submitted that under Section 238 IBC, the IBC will have over-riding effect over all other laws and therefore the order passed under the RERA Act will not come in the way of the CIRP Process. He has relied upon the judgment of the Hon ble Supreme Court of India in the matter of Poineer Urban Land and Infrastructure Limited and Anr. Vs. Union of India and others, Writ Petition (Civil) No. 43 of 2019 dated wherein the Hon ble Supreme Court has held that RERA and the Code ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Resolution Professional is duty bound under the provisions of Section 18 of IBC, 2016 to perform certain duties and obligations as envisaged under the said provision including taking over the control and custody of the assets of the Corporate Debtor under Section 18 (f). In view of the aforesaid discussions and taking into consideration the facts and circumstances of the case, we direct the Respondent, SLB Welfare Association to handover peaceful possession and custody of the project in question to the Applicant within two weeks and file compliance report before this Tribunal and we also direct the Local District Administration to provide necessary assistance to the Applicant for taking possession of the project site, if req ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
