Back
NATIONAL COMPANY LAW APPELLATE TRIBUNAL
ASHOK BHUSHAN, J
Xylocopa Builders & Developers Pvt. Ltd. – Appellant
Versus
Namrata Amol Randeri Liquidator of Turning Point Estates Pvt. Ltd. – Respondent
| Table of Content |
|---|
| 1. appeal challenges nclt order rejecting ia against auction cancellation. (Para 1 , 2) |
| 2. parties argue over payment delay due to encumbrance and forfeiture validity. (Para 4 , 5 , 6) |
| 3. e-auction memorandum mandates due diligence and forfeiture for non-payment. (Para 9 , 10 , 11 , 12) |
| 4. timeline of events, encumbrance removal efforts, and interim orders detailed. (Para 13 , 14 , 15 , 16 , 17 , 18) |
| 5. liquidator's auction cancellation lawful per process memorandum and regulations. (Para 19 , 20 , 24 , 25) |
| 6. supreme court affirms mandatory timelines in liquidation auctions. (Para 21 , 22 , 23) |
| 7. emd forfeiture upheld; excess 25% refundable to avoid unjust enrichment. (Para 26 , 30 , 31) |
| 8. restitution ordered for innocent purchaser against unjust enrichment. (Para 28 , 29 , 32) |
JUDGMENT
ASHOK BHUSHAN, J.
This appeal has been filed challenging the order dated 28.03.2025 passed by the adjudicating authority (National Company Law Tribunal, Court Room No. 1, Mumbai Bench) rejecting I.A. No.5114/2024 filed by the appellant. Aggrieved by the order rejecting I.A. No.5114/2024 this appeal has been filed.
2. Brief background facts of the case giving rise to this appeal are:
i. The co
An indispensable Tool for Legal Professionals, Endorsed by Various High Court and Judicial Officers
Please visit our Training & Support
Center or Contact Us for assistance
Scan Me!
India’s Legal research and Law Firm App, Download now!
For Daily Legal Updates, Join us on :
Back to top
