DIVISION BENCH, COURT NO. II

In

C.P. (IB)/482(KB)2019

An application under Section 60 (5) of the Insolvency and Bankruptcy Code, 2016 read with Rule 11 of the National Company Law Tribunal

Rules, 2016

In the matter of:

Stressed Assets Stabilization Fund, carrying on its business, inter alia, from 3rd Floor, D-Wing, IDBI Tower, WTC Complex, Cuffe Parade,

Mumbai- 400005;

… … … Financial Creditor

Versus

ER Textiles Limited, a company within the meaning of the Companies Act, 2013 and having its registered office at 1/433, Gariahat Road,

Block-4A (4^th Floor), Jodhpur Park, Kolkata- 700068;

… … … Corporate Debtor

And

In the matter of:

Vajram Estates Private Limited, having its registered office at

3/28/54/1, Brindavan Gardens, Guntur- 522006;

… … … Applicant

Versus

1. Annapoorani Textiles Pvt. Ltd., a company within the meaning of

the Companies Act, 2013 and having its registered office at 21A, Nethaji Nagar, Sukkiramaniya Valasu, Manickampalayam Road,

Erode- 638004;

2. Anup Kumar Singh, Chairman of the Monitoring Committee of ER

Textiles Limited, having his office at Suite 1B, 1st Floor, 22/28A,

Manoharpukur Road, Deshopriya Park, Kolkata- 700029;

… … … Respondents.

Date of pronouncement:16th July, 2024

CORAM:

SMT. BIDISHA BANERJEE, HON’BLE MEMBER (JUDICIAL)

SHRI D. ARVIND, HON’BLE MEMBER (TECHNICAL)

Appearance (via video conferencing/physically)

Mr. Shaunak Mitra, Adv. ] For the Liquidator

Ms. Debaleena Ganguly, Adv. ]

In C.P. (IB)/482(KB)2019 Mr. Ratnanko Banerji, Sr. Adv. ] For the Applicant of Vajram Mr. D. Roy, Adv. ] Estates Private Limited Mr. A. Agarwal, Adv. ] Ms. M. Barman, Adv. ]

Mr. Joy Saha, Sr. Adv. ] For the Resolution Professional Mr. R. Sarkar, Adv. ] Mr. A. Das, Adv. ]

Mr. T.V.Suresh Kumar Adv | For Annapoorani Textiles Private Ltd Mr. Gokula Krishnan Adv |

O R D E R

Per: D. Arvind, Member (Technical)

1. The Court convened in a hybrid mode.

2. Heard the learned Counsel for the parties.

3. This application has been preferred by Vajram Estates Private Limited (Applicant/Successful Resolution Applicant, SRA) against Annapoorani Textiles Pvt. Ltd. (Respondent No.1) and Anup Kumar Singh, Chairman of the Monitoring Committee of ER Textiles Limited (Corporate Debtor/Respondent No.2) seeking following reliefs:

(a) An order directing the Respondent No.1 to quit and vacate the said premises being plant and machinery along with constructed area with 180 looms, warping, sizing and other machinery located at 2/1, Nariganapuram Village, Berigai Post, Hosur- 635105, Tamil Nadu and excluding vacant site and handover khas, vacant and peaceful possession of the same to the Applicant;

In C.P. (IB)/482(KB)2019 (b) Alternatively, an order directing the Respondent No.1 to quit and vacate the said premises being plant and machinery along with constructed area with 180 looms, warping, sizing and other machinery located at 2/1, Nariganapuram Village, Berigai Post, Hosur- 635105, Tamil Nadu and excluding vacant site and handover khas, vacant and peaceful possession of the same to the Respondent No.2;

(c) An order directing the Respondent No.1 to pay damages on account of wrongful occupation of the said premises from 20^th February, 2023 till the date of handing over of possession to the Applicant at such rate as may be determined by this Hon’ble Tribunal after conducting necessary enquiry thereof;

(d) An order directing the Superintendent of Police, Krishnagiri District, Tamil Nadu and the Jurisdictional Revenue Authorities to render necessary assistance immediately in order to ensure effective handover of vacant and peaceful possession of the said premises to the Applicant herein;

(e) A Special Officer be appointed to take over possession of the said premises and to ensure effective handover of vacant and peaceful possession of the said premises to the Applicant herein;

(f) Ad interim prayers in terms of prayers above;

4. Factual matrix:

4.1. The Applicant herein is a Successful Resolution Applicant in respect of the Corporate Debtor, ER Textiles Limited whose Resolution Plan was appro