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J. B. PARDIWALA, R. MAHADEVAN
A A Estates Private Limited Through Its Resolution Professional Harshad Shamkant Deshpande – Appellant
Versus
Kher Nagar Sukhsadan Co-Operative Housing Society Ltd. – Respondent
| Table of Content |
|---|
| 1. civil appeal details and prior judgments. (Para 2 , 3 , 4 , 5) |
| 2. background of development agreements and related disputes. (Para 6) |
| 3. appellant's arguments against the high court's judgment. (Para 7) |
| 4. respondent's defenses and prior failures of the appellant. (Para 8) |
| 5. respondent no. 8's position and progress in redevelopment. (Para 9) |
| 6. court's factual determinations regarding ownership and possession. (Para 10 , 11 , 12) |
| 7. legal issues identified for adjudication. (Para 13 , 14 , 15) |
| 8. court's analysis on the validity of agreements and rights. (Para 16) |
| 9. conclusion on the validity of terminations and implications for the insolvency process. (Para 18 , 19 , 20 , 21) |
| 10. final verdict and direction concerning compliance. (Para 23 , 24 , 25) |
JUDGMENT
R. MAHADEVAN, J.
Leave granted.
2. This Civil Appeal has been preferred against the final judgment and order dated 11.09.2024 passed by the High Court of Judicature at Bombay1 [Hereinafter referred to as “the High Court”] in Writ Petition No. 3893 of 2024.
3. Appellant No. 1 is the Corporate Debtor, which is presently undergoing Corporate Insolvency Resolution Process2 [For short, “CIRP”] under the provisions of the Ins
Termination of a development agreement is valid where a corporate debtor persistently defaults, and such rights do not qualify as assets under the moratorium rule of the IBC.
Development rights are CIRP assets; Adjudicating Authority can determine pre-CIRP termination claims if central to process, rejecting inconsistent pleas where estoppel, non-performance, and continued....
In redevelopment disputes under Arbitration Act Section 9, society members' right to safe housing from dilapidated buildings prevails over developer's profit rights where developer caused 13-year del....
Amendments to pleadings are permissible if they do not fundamentally change the nature of the suit and are necessary for determining the real questions in controversy.
Development rights constitute IBC 'assets'; AA may include disputed tower units for real estate Section 7 threshold in integrated projects; tentative observations on agreements permissible at admissi....
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