INTERLOCUTORY APPLICATION NO.1654 of 2025

IN

C.P. (IB) NO. 1053/MB/2017

(Application under Section 60(5) of the Insolvency and Bankruptcy Code

2016)

M/s Tripupati Eneterprises …Applicant

Versus

Arck Resolution LLP & Anr. …Respondents

In the matter of :-

Amar Remedies Limited …Corporate

Applicant/Corporate Debtor

Order Pronounced on 27.11.2025

Coram:

Sh. Prabhat Kumar Sh. Sushil Mahadeorao Kochey

Hon’ble Member (Technical) Hon’ble Member (Judicial)

Appearances:

For the Applicant : Adv. Aniruth Pursothaman

For the Respondents : Adv. Lokesh Pawaskar a/w. Adv.

Abhinav Mathur, Adv. Geetanjali Nagpal, Adv. Aman Dham, Adv.

Prasad Walkar

ORDER

1. The present Application has been filed under Section 60(5) of the Insolvency and Bankruptcy Code, 2016 (hereinafter referred to as “Code”) by the Applicant seeking directions against the Respondent No. 2, Sane Guruji Premises Co-Operative Society Ltd., to set aside the demand notice dated 12.12.2024 and that the Applicant is not liable for the dues demanded by the Respondent No. 2. The Applicant is also seeking them to refrain from initiating any action against the Applicant and/ or property for recovering the alleged dues.

2. The Applicant Tirupati Enterprises is a registered Partnership Firm under the Partnership Act, 1932 having its office address at 6, First Floor Gokul Darshan Tokarkhada Silvassa – 396230. The Corporate Debtor is undergoing into liquidation and Respondent No. 1 is the Liquidator of the Corporate Debtor.

Brief Facts:

3. The Corporate Debtor was admitted under Section 10 of the Code and admitted into Corporate Insolvency Resolution Process (“CIRP”) by this Tribunal vide its order dated 16.06.2017. This Tribunal had approved the Resolution Plan vie its order dated 25.03.2021 and the successful resolution applicant failed to implement the Resolution Plan. Pursuant thereto, vide order dated 11.03.2024 this Tribunal admitted the Corporate Debtor into liquidation. The Liquidator was replaced and the Respondent No. 1 was appointed as Liquidator.

4. The Respondent No.1 published an e-auction sale notice dated

12.09.2024 for sale of the assets of the Corporate Debtor by way of e-auction on 25.10.2024. The Applicant participated in the e- auction sale and came out to be the highest bidder for the properties mentioned (i) Land & Building and Plant & Machinery situated at Dabhel, Daman Plot No. 168/31,32,41 & 42, Dabhel Industrial Co-Op Society, Dabhel, Daman; (ii) Land & Building and Plant & Machinery situated at Kachigam Daman (Plot No, 375/14Kachigam Hill Industrial Estate, Zari Road, Daman (iii) Land & Building And Plant & Machinery Dehradun Plant (Khata No 557, Village Central HopeTown, Paragan Panchhwa Doon, Camp Road, Selaqui, Uttarakhand) and (iv) Registered Office of the Corporate Debtor Block No. 3, 2nd Floor, Sane Guruji Premises 386, S.V.Savarkar Marg, Opp. Siddhivinayak Temple, Prabhadevi Mumbai City MH 400025). The Respondent No.1 issued an email dated 25.10.2024 to the Applicant declaring the Applicant as the highest bidder. The Applicant paid the full consideration for the said properties and sale certificate dated 03.12.2024 was issued by the Respondent No.1 for the said properties. The said property has been sold during the liquidation period.

5. On 12.12.2024 Respondent No. 2, issued a Demand Notice calling upon the Applicant to pay an amount of Rs. 1,65,58,623/- being the amount outstanding towards Tax, Rent, Maintenance charges ad sinking fund relating to the property situated at Block No. 3, 2nd Floor, Sane Guruji Premises 386, S.V. Savarkar Marg, Opp. Siddhivinayak Temple, Prabhadevi Mumbai City (“Said property”) for the period from 01.01.2013 to 10.10.2024.

6. It is stated by the Applicant that it is a bonafide third party purchaser who purchased the said property during liquidation period. Thus, the Applicant is not liable to pay the outstanding dues in relation to the subject property pertaining to the period prior to Transfer Date.

Submission of the Respondent No. 2

7. It is submitted