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NATIONAL COMPANY LAW TRIBUNAL
Sameer Kumar, J
Arshiya Limited – Appellant
Versus
Ascendas Panvel FTWZ Ltd. – Respondent
| Table of Content |
|---|
| 1. corporate debtor's background and approvals (Para 4 , 5) |
| 2. challenging restrictions in agreements (Para 6 , 10 , 11) |
| 3. validity of lease deed clause (Para 8 , 9) |
| 4. agreement disclosures and implications (Para 12 , 13 , 14) |
| 5. limitation act and contractual validity (Para 15 , 17 , 18) |
| 6. restrictions on land by lease deed (Para 19 , 20 , 21) |
| 7. composite transaction definitions (Para 22 , 23) |
| 8. public policy considerations in agreements (Para 34 , 35) |
| 9. jurisdiction of the tribunal under ibc (Para 54 , 55 , 56) |
ORDER
1) Arshiya Limited, the Corporate Debtor, is undergoing Corporate Insolvency Resolution Process (CIRP) under the Code pursuant to order dated 23.03.2024 passed by this Tribunal.
2) The Corporate Debtor is the Developer of a special economic warehouse zone (free trade and warehousing zone) ("SEZ FTWZ") located at Taluka Panvel, District Raigad pursuant to in principal approval dated 14.11.2008 followed by final approval dated 27.02.2009 granted by Respondent No. 3, and is engaged in the business of providing supply chain and logistics infrastructure solutions, including free trade and warehousing zones (FTWZs), and rail transport operations. Accordingly, th
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