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The SC dismissed the appeal challenging the NCLAT's order affirming that the Resolution Professional failed to prove physical possession of the disputed 10.81 acres of land. The Court found sufficient material establishing that the Corporate Debtor remains in possession of the land over which it claims development rights. The adjudication of possession issues lies with the Civil Court, and the owners' plea for exclusion of the Corporate Debtor from the CIRP was rejected. The SC held no grounds existed to interfere with the NCLAT's decision, thereby upholding the continuation of the CIRP with the Corporate Debtor in possession. The appeals were accordingly dismissed.
The SC dismissed the appeal challenging the NCLAT's order affirming that the Resolution Professional failed to prove physical possession of the disputed 10.81 acres of land. The Court found sufficient material establishing that the Corporate Debtor remains in possession of the land over which it claims development rights. The adjudication of possession issues lies with the Civil Court, and the owners' plea for exclusion of the Corporate Debtor from the CIRP was rejected. The SC held no grounds existed to interfere with the NCLAT's decision, thereby upholding the continuation of the CIRP with the Corporate Debtor in possession. The appeals were accordingly dismissed.
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