JUDGEMENT

(18^th APRIL, 2023) JUSTICE RAKESH KUMAR, MEMBER (JUDICIAL) The appellant, who purchased a piece of land through registered sale deed dated 13.07.2020 from Respondent No.2-Galaxy Cinema Private Limited, registered under the Companies Act, is aggrieved with an interim order passed by National Company Law Tribunal, Ahmedabad Division Bench Court I, Ahmedabad in CP/01/(AHM)/2023 (hereinafter referred to as NCLT). By the order dated 06.03.2023 in CP/1/(AHM)/2023 which was filed under Section 241, 242 of the Companies Act, 2013, the Learned NCLT, directed Respondent No.1 to 9 of CP/1/(AHM)/2023 “to maintain status quo relating to remaining 227 units by not creating any third party interest and not to carry on work construction beyond 302 units till disposal of main CP.” The appellant has specifically pleaded that being purchaser of the land in question he was not at all related in any manner with the Respondent No.2, who was the vendor of land in question. The appellant asserts that the appellant or its partner was neither director nor shareholder and also was not connected with the company in question. However, by the impugned order the appellant has been restrained from proceeding further with transferring/executing sale deed in respect of remaining constructed units which has been constructed much after purchase of the land in question.

It is the case of the appellant that Respondent No.2 (vendor) was operating a single screen cinema in the name of Galaxy Cinema in the city of Jamnagar, Gujarat. The said theatre stood on new city survey No.361, old city survey No.361, 362 and 363, total admeasuring of 5701.18 sq mtr (hereinafter referred to as property in question). The Respondent No.1 herein, one of the shareholders of Respondent No.2 (vendor) filed an application under Section 241, 242 of the Companies Act, 2013 before the NCLT on an allegation of operation and mismanagement of Respondent No.2, by Respondent No.3 to 9 of the present appeal. The said case was registered as CP/1/(AHM)/2023 in which impugned order has been passed It is case of the appellant that after payment of full consideration amount to the tune of Rs.6 crores the appellant purchased the property in question through registered sale deed. At the time of registration of the sale deed it was vacant land. After purchasing the land the appellant got a building constructed and till date of passing of the order total 302 units were constructed. Out of constructed units in respect of 61 units third party interest was created and it was transferred to the purchasers. NOC for another 14 purchasers was received by the private bank. According to the appellant over a property in question entire construction was complete which is reflected from the impugned order also. However, the Learned NCLT by order dated 6.3.2023 by directing to maintain status quo has virtually restrained the appellant from proceeding further with the property in question.

Mr. Krishnendu Dutta, learned senior counsel appearing on behalf of the appellant while assailing the impugned order, submitted that though appellant was not required to be impleaded in a proceeding filed under Section 241, 242 of the Companies Act, 2013, however, he was impleaded as Respondent No.9 before NCLT that too by not disclosing the full name of the appellant. According to the learned senior counsel, the appellant name is Shree Galaxy Enterprises, however, in the petition before NCLT it was arrayed as Galaxy Enterprise as Respondent No.9. He submits that before the NCLT he filed a detailed reply opposing relief sought for by the applicant against appellant herein. He has drawn our attention to application and filed by the Respondent No. 1 herein before NCLT under Section 241, 242 of the Companies Act which was numbered as Company Application No.CP/1/(AHM)/2023. By way of referring to relief portion which is at running page 223 to 227 he submitted that the applicant before the NCLT h