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NATIONAL COMPANY LAW APPELLATE TRIBUNAL
ASHOK BHUSHAN, J
IDFC First Bank Ltd. – Appellant
Versus
Seikh Abdul Salam – Respondent
| Table of Content |
|---|
| 1. background of appeals against nclt order (Para 1 , 2) |
| 2. timeline of loan, mortgage, auction, and cirp (Para 3 , 9 , 10) |
| 3. sale confirmed pre-cirp; certificate ministerial (Para 6) |
| 4. sale incomplete without post-cirp sale certificate (Para 7) |
| 5. rdb act applies income tax second schedule rules (Para 11 , 12 , 13) |
| 6. distinguishing indian overseas bank (sarfaesi case) (Para 14 , 15 , 16 , 17) |
| 7. title vests on sale confirmation; certificate evidentiary (Para 18 , 19 , 20 , 21 , 22) |
| 8. moratorium inapplicable to pre-cirp absolute sale (Para 23 , 24) |
| 9. nclt order set aside; rp application dismissed (Para 25) |
J U D G M E N T
ASHOK BHUSHAN, J.
These two Appeal(s) have been filed against the same order dated 24.04.2024 passed in IA(IB)No.592/(KB)/2024 in CP (IB) No. 218/(KB) /2023. By the impugned order the application filed by the Resolution Professional (“RP”) being IA(IB) No.592/(KB)/2024 has been allowed. Aggrieved by which order these Appeal(s) have been filed. The order dated 24.04.2024 was corrected by corrigendum order dated 26.04.2024.
2. Company Appeal (AT) (Ins.) No. 848 of 2024 has been filed by IDFC First Bank Ltd., who was Respondent No.1 in IA(IB)No.592/(KB)/2024
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