Tribunal grants possession transfer and refund monies application, appoints Advocate Commissioners.

The Tribunal dismissed two applications as infructuous due to subsequent events. An application for transfer of possession of a tenanted portion was granted, with an Advocate Commissioner overseeing the handover. The need for removal of goods from the premises was emphasized, and an Advocate Commissioner was appointed for inventory. Additionally, an Advocate Commissioner was appointed to oversee the possession handover process. An application directing a Bank to pay Refund Monies to the Corporate Debtor's account was allowed as the Bank did not respond to the claim.

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Issues:
1. Dismissal of applications as infructuous.
2. Transfer of possession of a tenanted portion.
3. Release of property and removal of goods.
4. Appointment of Advocate Commissioner for inventory.
5. Claim for payment of Refund Monies by the Bank.

Issue 1: Dismissal of applications as infructuous
The Tribunal dismissed two applications, IA/481/IB/2020 and IA/512/IB/2020, as infructuous due to subsequent events, as stated by the counsels representing the parties. The applications were no longer relevant or effective, leading to their dismissal.

Issue 2: Transfer of possession of a tenanted portion
An application was filed seeking the transfer of vacant possession of a tenanted portion to the Applicant. The Respondent's counsel had no objection to releasing the property but highlighted the need to remove furniture and fixtures from the premises. An Advocate Commissioner was appointed to oversee the inventory and handover of articles to enable the Applicant to take possession within seven days.

Issue 3: Release of property and removal of goods
The Liquidator's counsel emphasized the need for the companies functioning on the premises to remove all articles, including records, to facilitate the handover of possession to the Landlord/Applicant. An Advocate Commissioner was appointed to ensure the inventory and handover process, with the Applicant bearing the Commissioner's fees.

Issue 4: Appointment of Advocate Commissioner for inventory
In response to the need for inventory and possession handover, the Tribunal appointed an Advocate Commissioner to oversee the process. The Commissioner was tasked with taking inventories and ensuring the articles at the specified premises were handed over to the concerned persons in the presence of the Liquidator. The Applicant was directed to pay a specified sum to the Commissioner for the services rendered.

Issue 5: Claim for payment of Refund Monies by the Bank
Another application sought an order directing a Bank to make payment of Refund Monies to the Corporate Debtor's account. The Liquidator relied on specific events and adjustments made by the Bank regarding the Claim Refund amount. The Bank's unilateral adjustment without informing other parties was highlighted, leading to a claim for the refund amount to be made to the Corporate Debtor's account in CIRP. The Bank chose not to respond, resulting in the application being allowed by the Tribunal.

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