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NATIONAL COMPANY LAW TRIBUNAL
K. Biswal, Manoj Kumar Dubey, JJ
Mr. C.S. Harikumar – Appellant
Versus
M/s. Sovereign Developers and Infrastructure Ltd. – Respondent
| Table of Content |
|---|
| 1. application details and reliefs sought. (Para 1) |
| 2. arguments regarding project development issues. (Para 2 , 3 , 4) |
| 3. court analysis on contractual obligations. (Para 6 , 8) |
| 4. court's ruling on the validity of jda termination. (Para 10) |
| 5. final decision to dismiss the application. (Para 12 , 13) |
ORDER
Per: K. Biswal, Member (Judicial)
1. This Application has been filed by Mr. C.S. Harikumar under Section 60(5) of the Insolvency and Bankruptcy Code, 2016 (hereinafter referred to as the ‘Code / IBC, 2016’) and other applicable provisions of the Code read with the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 and applicable Rules of the National Company Law Tribunal Rules, 2016 against the Respondent i.e., M/s. Sovereign Developers and Infrastructure Ltd. seeking the following reliefs:
(a) declare that the Process Memorandum requesting the submission of resolution is incomplete as it does not consider the interest of the applicant being the landowner of the project M/s. Sovereign Sonaa;
(b) direct the Resolution Professional to consult and take the applicant into confidence before finalizing any decision with regard to Project M/s.Sovereig
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