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NATIONAL COMPANY LAW TRIBUNAL
Brajendra Mani Tripathi, Judicial Member, Man Mohan Gupta, Technical Member
Manoj Jakhetiya – Appellant
Versus
Chhaya Gupta – Respondent
| Table of Content |
|---|
| 1. application seeks handover of third-party plots under ibc section 18(f). (Para 1 , 2) |
| 2. rp admits paid registries but notes premature execution and mortgage. (Para 3) |
| 3. applicant rebuts rp claims, seeks possession sans financial claims. (Para 4) |
| 4. third-party assets excluded from cirp under section 18(f) explanation. (Para 5 , 6 , 7 , 8 , 9) |
| 5. registered sale deeds confer valid title to allottees. (Para 10 , 11 , 12) |
| 6. rp must remain neutral; resolution plans exclude third-party assets. (Para 13 , 14) |
| 7. mortgage rights persist; possession subject to bank noc. (Para 15 , 16 , 17 , 18) |
| 8. directs plot handover subject to ubi mortgage and rp neutrality. (Para 19) |
Mr. Man Mohan Gupta, Hon’ble Member (T)
Appearance:
For the Applicant : Ms. Teena Saraswat Pandey, PCA For the Respondent : Mrs. Chhaya Gupta, RP O R D E R
1. The present Application, filed on 15.05.2024, under Section 60(5) of the Insolvency and Bankruptcy Code 2016 read with Rule 11 of the National Company Law Tribunal Rules 2016, by Manoj Jakhetiya (the ‘Applicant’), against Mrs. Chhaya Gupta (the ‘Respondent’) Resolution Professional (RP) of M/s JSM Devcons India Private Limited (the ‘Corporate Debtor’), for
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