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NATIONAL COMPANY LAW TRIBUNAL
SH. NILESH SHARMA, Member (Judicial), SH. CHARANJEET SINGH GULATI, Member (Technical)
Kapishvar Silicates Pvt Ltd – Appellant
Versus
VXL Instruments Limited – Respondent
| Table of Content |
|---|
| 1. lease details and timeline of events related to the title. (Para 2 , 3 , 4) |
| 2. arguments regarding lease termination and entitlement to possession. (Para 6) |
ORDER
IA (IBC) NO. 3033 OF 2025
1. This I.A. is filed by M/s. Avon Data Cables Private Limited (“the Applicant”) under Section 60 (5) of the Insolvency and Bankruptcy Code, 2016 (“IBC/the Code”) with the following prayers:
a. Direct the Respondent to handover quiet, vacant and peaceful possession of the Property (as defined above) to the Applicant forthwith;
b. Direct the Respondent to treat the monthly sum of Rs.l,85,000/-from 26.11.2024 till the date of handover of possession of the Property as CIRP costs and pay such amount to the Applicant forthwith;
c. Pass such other orders in the interests of justice as this Hon'ble Tribunal deems fit.
Brief Facts as per the Application:
2. The Company Petition CP (IB) No. 570/MB/2024 under Section 7 of the Insolvency and Bankruptcy Code, 2016 (“the Code”) filed by M/s. Kapishvar Silicates Private Limited (“Petitioner/Financial Creditor”)for initiation of Corporate Insolvency Resolution Process (“CIRP”) of the M/s. VXL Instruments Limited (“Corporate Debtor”) was admitted vi
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