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2022 Supreme(Online)(NCLAT) 69
NATIONAL COMPANY LAW APPELLATE TRIBUNAL, PRINCIPAL BENCH, NEW DELHI Company Appeal (AT) No. 60 of 2020 IN THE MATTER OF: Status Before Status Before NCLT NCLAT 1. VIPUL SEZ DEVELOPERS PVT. LTD. REGISTERED OFFICE AT 14/185-14/186, GROUND FLOOR, MAIN SHIVALIK ROAD, NEW DELHI-110017 THROUGH ITS DIRECTOR ALSO AT VIPUL TECHSQUARE GOLF COURSE ROAD DLF PHASE 5, SECTOR 43, GURUGRAM-122009 Respondent No. 1 / Appellant No. 1 2. VIPUL LIMITED REGISTERED OFFICE AT UNIT NO.201, C-50, MALVIYA NAGAR, NEW DELHI-110017 THROUGH ITS DIRECTOR ALSO AT VIPUL TECHSQUARE GOLF COURSE ROAD DLF PHASE 5, SECTOR 43, GURUGRAM-122009 Respondent No. 2 / Appellant No. 2 VERSUS 1. SOLITAIRE CAPITAL INDIA REGISTERED OFFICE AT S-38, GREATER KAILASH-II, NEW DELHI-110048 CA (AT) No. 60 of 2020, 11 & 20 of 2021. THROUGH ITS AUTHORISED SIGNATORY Petitioner No. 1 / Respondent No. 1 2. MR. SANJIV AHUJA R/O 3A, MARGATE ROAD SINGAPORE 438076 Petitioner No. 2 / Respondent No. 2 3. MR. PUNIT BERIWALA R/O 15/10, SARVPRIYA VIHAR, NEW DELHI-110016 Respondent No. 3/Respondent No.3 4. MR. RAKESH SHARMA VIPUL TECHSQUARE GOLF COURSE ROAD, DLF PHASE 5, SECTOR 43 GURUGRAM – 122009 Respondent No. 4 /Respondent No.4 5. M/S NATIONAL SYNTHETICS LTD. CORPORATE OFFICE AT:
11TH FLOOR, NARAINMANZIL BUILDING, 23, BARAKHAMBA ROAD, NEW DELHI-110001 Respondent No. 5/Respondent No.5 6. MR. VK RUSTOGI R/O: FLAT NO. 805, TYPE A, 8TH FLOOR, CATEGORY 3, POCKET B, SFS MULTI-STOREYED FLATS, MOTIA KHAN, NEW DELHI - 110055 Respondent No. 6/Respondent No.6 7. M/S KARAMCHAND REALTECH PVT. LTD. REGD. OFF: KARAMCHAND HOUSE, 72, OKHLA ESTATE PHASE - III CA (AT) No. 60 of 2020, 11 & 20 of 2021. NEW DELHI - 110020 Respondent No. 7/Respondent No.7 8. MR. ANIL ARYA R/O: “RADHARANI", 3 AVENUE GULMOHAR, WESTEND GREENS, RAJOKRI, BEHIND NH-8, SHIVMURTI, NEW DELHI - 110038 Respondent No. 8/Respondent No.8 9. M/S SILVERSTONE DEVELOPERS PVT. LTD. REGD. OFF: 11TH FLOOR, NARAINMANZIL BUILDING, 23, BARAKHAMBA ROAD, NEW DELHI-110001 Respondent No. 9/Respondent No.9 10. M/S PKBK BUILDWELL PVT. LTD. CORPORATE OFFICE AT:
VIPUL TECHSQUARE GOLF COURSE ROAD, DLF PHASE 5, SECTOR 43 GURUGRAM – 122009 Respondent No. 10/Respondent No.10 11. PKB BUILDCON PVT. LTD. CORPORATE OFFICE AT:
VIPUL TECHSQUARE GOLF COURSE ROAD, DLF PHASE 5, SECTOR 43.
GURUGRAM - 122009 Respondent No. 11/Respondent No.11 12. M/S KST BUILDWELL PVT. LTD. CORPORATE OFFICE AT:
VIPUL TECHSQUARE GOLF COURSE ROAD, DLF PHASE 5, SECTOR 43 GURUGRAM - 122009 Respondent No. 12/Respondent No.12 CA (AT) No. 60 of 2020, 11 & 20 of 2021. Present: For Appellant: Mr. Ritin Rai, Sr. Adv. with Mr. Sarojanand Jha, Mr. Suraj Malik, Mr. Karan Sharma, Advocate. For Respondent: Mr. P. Nagesh, Sr. Advocate, Mr. Saurabh Kalia, Ms. Sonali Jain, Advocates for Respondent Nos. 1 & 2. Ms. Renu Gupta, Advocates for Respondent Nos. 7 & 8. Ms. Raveena Rai, Mr. Prateek Kumar and Ms. Apeksha Dhanvijay, Advocates for R9. With Company Appeal (AT) No. 11 of 2021 IN THE MATTER OF: Status Before Status Before NCLT NCLAT 1. VIPUL LIMITED A COMPANY REGISTERED UNDER THE PROVISIONS OF COMPANIES ACT, 1956 AND HAVING ITS REGISTERED OFFICE AT UNIT NO.201, C-50, MALVIYA NAGAR, NEW DELHI-110017 THROUGH ITS DIRECTOR ALSO AT VIPUL TECHSQUARE GOLF COURSE ROAD DLF PHASE 5, SECTOR 43, GURUGRAM-122009 Respondent No. 2/Appellant No. 1 2. VIPUL SEZ DEVELOPERS PVT. LTD. A COMPANY REGISTERED UNDER THE PROVISIONS OF COMPANIES ACT, 1956 AND HAVING ITS REGISTERED OFFICE AT 14/185-14/186, GROUND FLOOR, MAIN SHIVALIK ROAD, CA (AT) No. 60 of 2020, 11 & 20 of 2021. NEW DELHI-110017 THROUGH ITS DIRECTOR ALSO AT VIPUL TECHSQUARE GOLF COURSE ROAD DLF PHASE 5, SECTOR 43, GURUGRAM-122009 Respondent No. 1/Appellant No. 2 VERSUS 1. SOLITAIRE CAPITAL INDIA REGISTERED OFFICE AT S-38, GREATER KAILASH-II, NEW DELHI-110048 THROUGH ITS AUTHORISED SIGNATORY Petitioner No. 1 / Respondent No. 1 2. MR. SANJIV AHUJA R/O 3A, MARGATE ROAD SINGAPORE 438076 Petitioner No. 2 / Respondent No. 2 3. MR. PUNIT BERIWALA R/O 15/10, SARVPRIYA VIHAR, NEW DELHI-110016 Respondent No. 3/ Respondent No. 3 4. MR. RAKESH SHARMA VIPUL TECHSQUARE GOLF COURSE ROAD, DLF PHASE 5, SECTOR 43 GURUGRAM – 122009 Respondent No. 4/Respondent No. 4 5. M/S NATIONAL SYNTHETICS LTD. CORPORATE OFFICE AT:
11TH FLOOR, NARAINMANZIL BUILDING, 23, BARAKHAMBA ROAD, NEW DELHI-110001 Respondent No. 5/Respondent No. 5 6. MR. VK RUSTOGI R/O: FLAT NO. 805, TYPE A, 8TH FLOOR, CATEGORY 3, POCKET B, SFS MULTI-STOREYED FLATS, CA (AT) No. 60 of 2020, 11 & 20 of 2021. MOTIA KHAN, NEW DELHI - 110055 Respondent No. 6/ Respondent No. 6 7. M/S KARAMCHAND REALTECH PVT. LTD. REGD. OFF: KARAMCHAND HOUSE, 72, OKHLA ESTATE PHASE - III NEW DELHI - 110020 Respondent No. 7/Respondent No. 7 8. MR. ANIL ARYA R/O: “RADHARANI", 3 AVENUE GULMOHAR, WESTEND GREENS, RAJOKRI, BEHIND NH-8, SHIVMURTI, NEW DELHI - 110038 Respondent No. 8/Respondent No. 8 9. M/S SILVERSTONE DEVELOPERS PVT. LTD. REGD. OFF: 11TH FLOOR, NARAINMANZIL BUILDING, 23, BARAKHAMBA ROAD, NEW DELHI-110001 Respondent No. 9/Respondent No. 9 10. M/S PKBK BUILDWELL PVT. LTD. CORPORATE OFFICE AT:
VIPUL TECHSQUARE GOLF COURSE ROAD, DLF PHASE 5, SECTOR 43 GURUGRAM – 122009 Respondent No. 10/Respondent No. 10 11. PKB BUILDCON PVT. LTD. CORPORATE OFFICE AT:
VIPUL TECHSQUARE GOLF COURSE ROAD, DLF PHASE 5, SECTOR 43.
GURUGRAM - 122009 Respondent No. 11/ Respondent No. 11 12. M/S KST BUILDWELL PVT. LTD. CORPORATE OFFICE AT:
VIPUL TECHSQUARE GOLF COURSE ROAD, DLF PHASE 5, SECTOR 43 CA (AT) No. 60 of 2020, 11 & 20 of 2021. GURUGRAM - 122009 Respondent No. 12/ Respondent No. 12 Present: For Appellant: Mr. Sarojanand Jha, Mr. Suraj Malik, Mr. Karan Sharma, Mr. Abhimanyu Bhandari, Advocates For Respondent: Mr. P. Nagesh, Sr. Advocate, Mr. Saurabh Kalia, Ms. Sonali Jain, Advocates for Respondent Nos. 1 & 2. Ms. Renu Gupta, Advocate for Respondent Nos. 7 & 8. Ms. Raveena Rai, Mr. Prateek Kumar and Ms. Apeksha Dhanvijay, Advocates for R9. With Company Appeal (AT) No. 20 of 2021 IN THE MATTER OF: Status Before Status Before NCLT NCLAT 1. M/S KARAMCHAND REALTECH PVT. LTD. REGD. OFF: KARAMCHAND HOUSE, 72, OKHLA ESTATE PHASE - III NEW DELHI - 110020 Respondent No. 7 / Appellant No. 1 VERSUS 1. SOLITAIRE CAPITAL INDIA REGISTERED OFFICE AT S-38, GREATER KAILASH-II, NEW DELHI-110048 THROUGH ITS AUTHORISED SIGNATORY Petitioner No. 1 / Respondent No. 1 2. MR. SANJIV AHUJA R/O 3A, MARGATE ROAD SINGAPORE 438076 Petitioner No. 2 / Respondent No. 2 3. VIPUL SEZ DEVELOPERS PVT. LTD. REGISTERED OFFICE AT CA (AT) No. 60 of 2020, 11 & 20 of 2021. 14/185-14/186, GROUND FLOOR, MAIN SHIVALIK ROAD, NEW DELHI-110017 THROUGH ITS DIRECTOR ALSO AT VIPUL TECHSQUARE GOLF COURSE ROAD DLF PHASE 5, SECTOR 43, GURUGRAM-122009 Respondent No. 1 / Respondent No. 3 4. VIPUL LIMITED REGISTERED OFFICE AT 14/185-14/186, GROUND FLOOR, MAIN SHIVALIK ROAD, NEW DELHI-110017 THROUGH ITS DIRECTOR ALSO AT VIPUL TECHSQUARE GOLF COURSE ROAD DLF PHASE 5, SECTOR 43, GURUGRAM-122009 Respondent No. 2 / Respondent No. 4 5. MR. PUNIT BERIWALA R/O 15/10, SARVPRIYA VIHAR, NEW DELHI-110016 Respondent No. 3 / Respondent No. 5 6. MR. RAKESH SHARMA RESITERED OF, C-3/148, SECTOR – 36 NOIDA – 201301 Respondent No. 4 / Respondent No. 6 7. M/S NATIONAL SYNTHETICS LTD. CORPORATE OFFICE AT:
11TH FLOOR, NARAINMANZIL BUILDING, 23, BARAKHAMBA ROAD, NEW DELHI-110001 Respondent No. 5 / Respondent No. 7 CA (AT) No. 60 of 2020, 11 & 20 of 2021. 8. MR. VK RUSTOGI R/O: FLAT NO. 805, TYPE A, 8TH FLOOR, CATEGORY 3, POCKET B, SFS MULTI-STOREYED FLATS, MOTIA KHAN, NEW DELHI - 110055 Respondent No. 6 / Respondent No. 8 9. M/S SILVERSTONE DEVELOPERS PVT. LTD. REGD. OFF: 11TH FLOOR, NARAINMANZIL BUILDING, 23, BARAKHAMBA ROAD, NEW DELHI-110001 Respondent No. 9 / Respondent No. 9 10. M/S PKBK BUILDWELL PVT. LTD. REGISTERED OFFICE, 14/185-14/186, GROUND FLOOR, MALVIYA NAGAR MAIN SHIVALIK ROAD, NEW DELHI 110017 ALSO AT VIPUL TECHSQUARE GOLF COURSE ROAD DLF PHASE 5, SECTOR 43, GURUGRAM-122009 Respondent No. 10 / Respondent No. 10 11. PKB BUILDCON PVT. LTD. REGISTERED OFFICE, 14/185-14/186, GROUND FLOOR, MALVIYA NAGAR MAIN SHIVALIK ROAD, NEW DELHI 110017 ALSO AT VIPUL TECHSQUARE GOLF COURSE ROAD DLF PHASE 5, SECTOR 43, GURUGRAM-122009 Respondent No. 11 / Respondent No. 11 12. M/S KST BUILDWELL PVT. LTD. REGISTERED OFFICE, 14/185-14/186, GROUND FLOOR, MALVIYA NAGAR CA (AT) No. 60 of 2020, 11 & 20 of 2021. MAIN SHIVALIK ROAD, NEW DELHI 110017 ALSO AT VIPUL TECHSQUARE GOLF COURSE ROAD DLF PHASE 5, SECTOR 43, GURUGRAM-122009 Respondent No. 12 / Respondent No. 12 13. MR. ANIL ARYA R/O: “RADHARANI", 3 AVENUE GULMOHAR, WESTEND GREENS, RAJOKRI, BEHIND NH-8, SHIVMURTI, NEW DELHI - 110038 Respondent No. 8 / Respondent No. 13 Present: For Appellant: Ms. Renu Gupta, Advocate. For Respondent: Mr. P. Nagesh, Sr. Advocate with Ms. Sonali Jain, Advocates for RespondentNos. 1 & 2. Mr. Sarojanand Jha, Mr. Suraj Malik, Mr. Karan Sharma, Advocates for Respondent Nos. 3,4,5,6 & 10-12.
JUDGEMENT
Jarat Kumar Jain: J. The National Company Law Tribunal, New Delhi, Bench - III (the ‘Tribunal’) vide order dated 14.02.2020 allowed the Application CA No. 83 of 2020 in CP No. 94 of 2019 filed by the Solitaire Capital India and Mr. Sanjiv Ahuja against that order the Appeal CA (AT) No. 60 of 2020 is filed by the Vipul SEZ Developers Pvt. Ltd. & Vipul Ltd.
2. The Tribunal vide order dated 04.01.2021 rejected the Application CA– 422/2019 filed by Vipul Ltd. against that order Vipul Ltd. &Vipul SEZ CA (AT) No. 60 of 2020, 11 & 20 of 2021. Developers Pvt. Ltd. and Karamchand Realtech Pvt. Ltd. have filed the Appeals CA (AT) No. 11 of 2021 and CA (AT) No. 20 of 2021 respectively. The ApplicationCA No. 83 of 2020filed by the Applicants/Petitioners Solitaire Capital and Sanjiv Ahuja seeking following reliefs:-
- (a) Take on record the orders dated 17.12.2019 and 09.01.2020 passed by the Hon’ble Supreme Court in Civil Appeal No. 9400 of
2019. (b) Decide the Application under Section 8 of the Arbitration and Conciliation Act, 1996, expeditiously in the terms of the order dated 09.01.2020 passed by the Hon’ble Supreme Court. (c) Alternatively, grant injunction on the Sale Deed No. 3543, dated 12.05.2006 until 12.02.2020 or the disposal of the Application under Section 8 of the Arbitration and conciliation Act, 1996, whichever is later.
(d) Pass such further order (s) as this Tribunal may deem fit and proper in the facts and circumstances of the present case.
3. The Tribunal by the impugned order dated 14.02.2020 allowed the Application, operative portion of the order is under: -
- “In view of the discussions made above, this Tribunal is inclined to allow the Application and the Respondents are restrained from dealing with seven acres of land registered in the name of first Respondent Company under Sale Deed No. 3543 dated 12.05.2006, in any manner whatsoever till the Application filed under Section 8 of the Arbitration and Conciliation Act, 1996 is decided and in the event, the said Application is dismissed, till the final disposal of the main CP No. 94 of 2019.” CA (AT) No. 60 of 2020, 11 & 20 of 2021.
4. Being aggrieved with this order, the Appellants “Vipul SEZ Developers Pvt. Ltd. and Vipul Ltd.” have filed the present Appeal CA (AT) No. 60 of
2020.
5. The Application CA 422/2019 under Section 8 of the Arbitration and Conciliation Act, 1996 (Arbitration Act) filed by the Vipul Ltd., is rejected by the Tribunal vide order dated 04.01.2021 whereby declined to refer the matter to Arbitral Tribunal.
6. Operative portion of the order dated 04.01.2021 is as under:- “48. In the light of the detailed discussion made above, it becomes clear that the matter complained of relates to the instances of oppression and mismanagement of the affairs of first Respondent Company. The subject matter of the petition is not capable of being referred to Arbitral Tribunal. The petitioners have a right under law to seek statutory reliefs from the NCLT, which alone could be granted in view of the statutory scheme contained in the Companies Act, 2013 and the subject matter of the company petition is outside the purview of the arbitration clause.
49..............
50. In the light of the above, we are not inclined to refer the matter to Arbitral Tribunal and the CA No. 422/2019 filed in CP/94/241-242/PB/2019 by the Applicant/Respondent No. 2 under Section 8 of the Arbitration& Conciliation Act, 1996 stands rejected”
7. Being aggrieved with this order, Vipul Ltd. and Vipul SEZ Developers Pvt. Ltd. have filed CA (AT) No. 11 of 2021 and Mr. Karamchand Real Tech Pvt. Ltd. has also filed CA (AT) No. 20 of 2021, against the same order. CA (AT) No. 60 of 2020, 11 & 20 of 2021.
8. As all these Appeals are inter-related, therefore, we are deciding these Appeals by the common Judgment. In the Judgment, the parties are referred as their original status before the Tribunal.
Brief facts: -
9. The substance of the mattercomplained of by the Petitioners in
