IN THE NATIONAL COMPANY LAW TRIBUNAL

AHMEDABAD (COURT NO. II)

IA No. 646/AHM/2021

AND

IA No. 676/AHM/2021

IN

CP (IB) 127/AHM/2017

Under Section 60(5) of the Insolvency and Bankruptcy Code, 2016

IN THE MATTER OF IA No. 646/AHM/2021

Mr. Amit Jain

Resolution Professional of

Neesa Leisure Limited

... Applicant/Resolution Professional

Versus

Rajasthan State Industrial and

Investment Corporation Ltd.

...Respondent

AND

In the Matter of IA No.676/AHM/2021

Elica Hospitality LLP

…Applicant

Versus

1. Rajasthan State Industrial Development

and Investment Corporation Ltd.

2. Mr. Amit Jain

Resolution Professional of Neesa Leisure Ltd.

…Respondents

2

IA No. 646/AHM/2021

IA No. 676/AHM/2021

IN CP (IB) 127/AHM/2017

AND

IN THE MATTER OF

Asset Reconstruction

Company (India) Limited

…Financial Creditor

Versus

Neesa Leisure Ltd.

…Corporate Debtor

Order Pronounced On: 31/03/2022

Coram:

DR. DEEPTI MUKESH,

HON’BLE MEMBER (JUDICIAL)

KAUSHALENDRA KUMAR SINGH,

HON’BLE MEMBER (TECHNICAL)

MEMO OF PARTIES

(IA No. 646/AHM/2021)

Mr. Amit Jain

Resolution Professional of

Neesa Leisure Limited

Building No. 10, Tower-B,

8^th Floor, DLF Cyber City Phase-II,

Gurgaon-122022

... Applicant/Resolution Professional

versus

Rajasthan State Industrial Development and

Investment Corporation

22 Godam Industrial Area,

Jaipur- 302006

...Respondent

Present:

For the Applicant/RP: Mr. Nandish Chudgar, Advocate

For the Respondent:

Mr. Pavan Godiawala, Advocate

3

IA No. 646/AHM/2021

IA No. 676/AHM/2021

IN CP (IB) 127/AHM/2017

MEMO OF PARTIES

(IA No. 676/AHM/2021)

Elica Hospitality LLP

104, First Floor Goldmine Jewel Complex,

Sector-26, Gandhinagar-382028

…Applicant

Versus

1. Rajasthan State Industrial Development

and Investment Corporation Ltd.

Udyog Bhavan, Tilak Marg,

C-Scheme, Jaipur, Rajasthan

2. Mr. Amit Jain

Resolution Professional of Neesa Leisure Ltd.

Building No. 10, Tower-B,

8^th Floor, DLF Cyber City Phase-II,

Gurgoan- 122022

…Respondents

Present:

For the Applicant:

Mr. Shivam Parikh, Advocate

Mr. Aspi Kapadia, Advocate

For the Respondents:

Mr. Pavan Godiawala, Advocate (For R-1)

Mr. Nandish Chudgar, Advocate (For R-2)

ORDER

Dr. Deepti Mukesh, Member (Judicial)

1.

Two Applications bearing IA No. 646/AHM/2021 and IA No.

676/AHM/2021 being connected with respect to same property in

question for taking possession by two different parties, are disposed of

by this common order.

IA No. 646/AHM/2021

This Application is filed by Mr. Amit Jain, Resolution Professional of the

Corporate Debtor Neesa Leisure Limited (‘Resolution Professional’),

under Section 60(5) of the Insolvency and Bankruptcy Code, 2016

4

IA No. 646/AHM/2021

IA No. 676/AHM/2021

IN CP (IB) 127/AHM/2017

(‘Code’) seeking following relief against Rajasthan State Industrial

Development and Investment Corporation Ltd. (‘Respondent/RIICO’):

a) The Hon’ble Tribunal be pleased to pass an order staying

the proceedings pursuant to the Cancellation Order passed by

the Respondent in relation to the cancellation of the lease deed

for the Land Premises and the Hotel, including all proceedings

for the re-possession of the Land Premises;

b) Pending the hearing and final disposal of the present

Application, the Hon’ble Tribunal be pleased to pass an order

for restricting the Respondent from acting in furtherance of the

Cancellation order in relation to the Hotel and Land premises;

c) Pending the hearing and final disposal of the present

Application, the Hon’ble Tribunal be pleased to pass an order

for restricting the Respondent from taking the possession of the

Hotel and the Land Premises from the Corporate Debtor;

d) Pending the hearing and final disposal of the present

Application, the Hon’ble Tribunal be pleased to pass an order

directing the Resp