JUDGMENT

Per: Justice Rakesh Kumar Jain:

This appeal is directed against the order dated 05.04.2024, passed by the National Company Law Tribunal, Mumbai Bench, C-IV by which an application bearing I.A No. 4632 of 2023 filed in CP (IB) No. 541/MB/2021, under Section 60(5) read with Section 25(2)(a) of the Insolvency and Bankruptcy Code, 2026 (in short ‘Code’) by the Resolution Professional (RP) of M/s Champalalji Finance Pvt. Ltd. (Corporate Debtor) against the present Appellants (Predecessor in interest of Late Shri Suresh Padmanabha Hegde) for a direction to handover the control and custody of the property bearing Villa Mohindra Outhouse, 13h Road, TPS III, CTS No. 543, Khar (W), Mumbai – 400052 (property in question) belonging to the CD, has been allowed.

2. In brief, the CD slipped into Corporate Insolvency Resolution Process (CIRP) vide order dated 17.03.2023 and in the first meeting of the CoC held on 26.04.2023 the Respondent (IRP) was appointed as the RP of the CD.

3. The RP alleged to have visited the property in question owned by the CD and found that it was occupied by the present Appellants who have claimed their tenancy right over the same.

4. The RP filed I.A. No. 4632 of 2