The Tribunal emphasized the necessity of expedited disposal of interlocutory applications related to asset demarcation to prevent delays in the liquidation process of a corporate debtor.

JUDGEMENT

Per Justice N. Seshasayee, Member (Judicial)

This appeal is preferred against the order dated 15.04.2026 passed by the Adjudicating Authority in I.A. No. 807 of 2025 in C.P. (IB) No. 223/ALD/2018 whereby the application filed by the Appellant was adjourned to 25.05.2026.

The context in which the appeal is filed is that the Appellant is the Liquidator of JVL Agro Industries Limited. The Corporate Debtor entered liquidation pursuant to the order of the Adjudicating Authority dated 19.08.2020. During the liquidation process, substantially all the assets of the Corporate Debtor are stated to have been realised except, among others, a parcel of freehold land admeasuring approximately 25 bighas situated at Kamalpur, Assam.

a) According to the Appellant, the land initially available in the records measured about 10 bighas. On further verification of title documents and revenue records, it transpired that the Corporate Debtor owned an aggregate extent of approximately 25 bighas. The land was thereafter valued and, acting on the advice of the Stakeholders’ Consultation Committee, repeated attempts were made to sell the property through e-auction.

b) Be that as it may, none of the auction attempts fructified. According to the Appellant, though prospective purchasers expressed interest and even inspected the property, they were unwilling to participate in the auction process owing to the absence of demarcation of the land. The Appellant would state that the uncertainty regarding the boundaries and contiguity of the land parcels had become the principal impediment for realisation of the asset.

c) In these circumstances, the Appellant approached the Respondent, namely the Circle Officer, Kamalpur Revenue Circle, requesting demarcation of the land. According to the Appellant, repeated representations were submitted from time to time.

d) Left with no option, the appellant instituted I.A. No. 807 of 2025 before the Adjudicating Authority seeking appropriate directions to the Respondent for carrying out demarcation of the said land. Notice came to be issued in the application. However, according to the Appellant, the application thereafter remained pending and was adjourned on several occasions.

e) The Appellant thereafter preferred I.A. No. 241 of 2026 seeking urgent listing of I.A. No. 807 of 2025. The said application came to be disposed of on 10.04.2026 with a direction that I.A. No. 807 of 2025 be listed higher on the Board. However, on 14.04.2026 the matter was renotified owing to a holiday and, on 15.04.2026, it could not be taken up due to paucity of time and stood adjourned to 25.05.2026.

f) Aggrieved by the repeated adjournments and the consequent delay in consideration of I.A. No. 807 of 2025, the present appeal has been preferred.

Learned counsel appearing for the Appellant submitted that the grievance projected in the present appeal is rather limited. The application filed by the Appellant seeks only a direction to facilitate demarcation of the land, which according to the Appellant is necessary for completion of the liquidation process and only for early hearing of I.A. 807 of 2025.

Accordingly, without expressing any opinion on the merits of the controversy, we request the Adjudicating Authority to take up I.A. No. 807 of 2025 and dispose of the same, in accordance with law, as expeditiously as possible and preferably within a period of two months from the date of receipt of a copy of this order.

I have heard learned counsel appearing for the parties and perused the case diary.

Taking into consideration the facts and circumstances of the case, nature and gravity of the offence, period of detention of the applicant since 25.03.2026 and also considering the fact that from the perusal of the statement of the victim recorded under Section 183 of the B.N.S.S., it appears that the victim is a major married woman and the parties remained in a relationship for a considerable period during which they established physical re