The Liquidator is empowered to take possession of the Corporate Debtor's assets, and stakeholders must file claims for any outstanding dues as per the Insolvency and Bankruptcy Code.

ORDER

1. This application is filed by Mr. Anil Goel, Liquidator of Rotomac Exports Pvt. Ltd. (Applicant/Liquidator) under Section 35(1)(n) and 60(5) of the IBC r/w Regulation 9 of Liquidation Regulations seeking the following directions:

a) Allow the Present Application.

b) Pass an order directing the Respondent No. 1 and Respondent No. 2 to assist and provide cooperation to the Liquidator in the Liquidation Process of the Corporate Debtor.

c) Pass an order directing the Respondent No. 1 and Respondent No.2 to immediately handover the possession of the plots purchased by the Corporate Debtor in the Project of the Respondents, to the Liquidator.

d) Pass an order directing the Respondent No. 1 and Respondent No. 2 to file claim(s) as per the provisions of Code before the Applicant/Liquidator for any outstanding amounts/ dues against the Corporate Debtor and also, provide the requisite documents substantiating their Claim against the Corporate Debtor.

e) Pass an order directing the Respondent No.1 and Respondent No.2 to provide and give access to the Liquidator of all the necessary information/ documents viz. the Property Buyer's Agreement etc. to the Liquidator.

f) Any other Order as this Hon'ble Tribunal may deem fit and proper in the interest of Justice.

2. Briefly stated facts of the case are that this Tribunal vide order dated 23.03.2018, directed for initiation of Liquidation Process of the Corporate Debtor, wherein the Applicant was appointed as the Liquidator of Corporate Debtor. Accordingly, the Applicant post his appointment as RP/ Liquidator of Corporate Debtor, took into custody and control all assets, documents, property, claims etc. of the Corporate Debtor. During the Liquidation Process of Corporate Debtor, the Applicant was in receipt of five letters, each dated 22.04.2019 from Vipul Limited, issued in name of Corporate Debtor which categorically mentioned that the Corporate Debtor is to clear dues (if any) and take physical possession of the respective plots mentioned therein.

3. The Applicant submitted that in 2006 the Corporate Debtor purchased certain plots in a Residential Colony namely Vipul World ('Project'), which was developed by Vipul Limited ('Respondents No. 1') in Joint Venture with Solitare Buildmart Private Limited ('Respondents No. 2') (collectively referred to as 'Respondents'). The Corporate Debtor and Respondents entered into respective Memorandum of Understanding ('MOU') each dated 23.01.2006 for the purchase of said plots in Project of the Respondents. The Applicant learnt that balance consideration towards the allotment(s) is to be remitted by the Corporate Debtor to the Respondents as detailed in Schedule II of the respective letters.

4. Thereafter, vide letter(s) dated 26.08.2011, the Corporate Debtor was offered to take physical possession of the said plots and later reminder letters dated 22.04.2019 were also issued to the Applicant stating that the Corporate Debtor till date has not taken any action towards physical possession/registration of the respective plots. On receipt of the reminder letters each dated 22.04.2019, the Liquidator took immediate steps to take the possession of said plots to form part of the liquidation estate. Pursuant to receiving the letters, the Applicant sent a letter dated 31.05.2019, informing the Respondents No. 1 about the initiation of Liquidation Process of Corporate Debtor by this Tribunal and requested to provide details. Subsequently, when no response was received from Respondents in this regard, the Liquidator visited the Respondents and was given assurance of full cooperation. However, despite the said visit and further communications, again no responses were received.

5. Thereafter, on 25.06.2019 a response letter was received by the Liquidator from the Respondent No. 1, in furtherance to the above said follow ups wherein Statement of Accounts (as on June 2019) was provided containing the total outstanding amount to be paid by the Corporate Debtor to the tune o