https://www.taxtmi.com/caselaws?id=312655 An agreement to sell immovable property does not by itself create any interest or charge, and title passes only on execution of a registered conveyance. Where the property remained in the appellant's name and the dispute concerned alleged breach of that pre-CIRP agreement, the NCLT could not use insolvency jurisdiction or Section 60(5) of the Code to adjudicate the title dispute or compel transfer of property not owned by the corporate debtor. Approval of a resolution plan could not enlarge jurisdiction to direct transfer of a third party's asset. The direction requiring transfer of the Igatpuri unit was therefore beyond jurisdiction and unsustainable. en-us Mon, 10 Apr 2023 00:00:00 +0530 Fri, 01 Mar 2024 05:51:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=312655 An agreement to sell immovable property does not by itself create any interest or charge, and title passes only on execution of a registered conveyance. Where the property remained in the appellant's name and the dispute concerned alleged breach of that pre-CIRP agreement, the NCLT could not use insolvency jurisdiction or Section 60(5) of the Code to adjudicate the title dispute or compel transfer of property not owned by the corporate debtor. Approval of a resolution plan could not enlarge jurisdiction to direct transfer of a third party's asset. The direction requiring transfer of the Igatpuri unit was therefore beyond jurisdiction and unsustainable. Case-Laws Insolvency and Bankruptcy Mon, 10 Apr 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=312655