2024 (8) TMI 1712

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....r. Smriti Chriwal, Jaiveer Kant, Hardik Khatri, Adv. for R2 to 5 Ms. Swetal Sheptal, Adv. for R1 ORDER Per: Justice Rakesh Kumar Jain (Oral) This order shall dispose of two appeals i.e. CA (AT) (Ins) No. 170 of 2024 (hereinafter referred to as the first appeal) and CA (AT) (Ins) No. 698 of 2024 (hereinafter referred to as the second appeal). 2. The first appeal is directed against the order dated 29.11.2023 by which an application filed by the Appellant (Liquidator) bearing I.A. No. 2489 of 2023 under Sections 35, 36 & 238 of the IBC, 2016 (in short 'Code') seeking a direction to lift the attachment of the assets of the Corporate Debtor and deposits with the City Civil and Sessions Court, Mumbai under the Maharashtra Protecti....

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.... Civil & Session Court, Mumbai where the MPID Special case was pending. The application was filed for cancellation of attachment of the property of the CD, namely, shop situated at Building known as Skyline Status, Ground Floor, Opp. Pooja Hotel, MG Road, Ghatkopar East, Mumbai 400 077 bearing Survey No. 225, Hissa No. 12 and CTS No. 555 to 5560 revenue village, Ghatkopar - Kirol, Taluka - Kulra, Mumbai. 7. The Appellant in the first appeal filed the present application no. 2489 of 2023 before the Tribunal for lifting the attachment order. In the second appeal, auction purchaser also filed I.A. No. 274 of 2024 for the same purpose. 8. The Tribunal dismissed the application bearing no. 2489 of 2023 of the appellant on 29.11.2023 with t....

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....refore, the application filed by the Appellant was found to be premature, however, liberty was granted to the Appellant to file fresh application as and when a right accrues to them in case any order is passed under Section 4 r/w Section 7 of the Act. 12. On the last date of hearing, we had asked Counsel for Respondent No. 1 to provide the details as to whether the other 14 properties have been attached by the issuance of a notification or not. There is no categoric answer to this question but we have found that the application of the Appellant bearing no. 2489 of 2023 has simply been dismissed on the ground that since the matter is pending before the Special Court, therefore, the Tribunal has not having the jurisdiction to deal with the....

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....ts letter addressed to it, mentioned hereinabove, have also been attached or any publication has been issued by the State Govt. or not. 15. In the second appeal, the appellant/auction purchaser shall also have the same liberty to file similar application before the Specific Court constituted under the Act and in case the properties are not lying attached in terms of Section 4 of the Act, they are free to file an appropriate application before the Tribunal for passing an appropriate order. 16. With these observations, both the appeal are hereby disposed of, however, the Appellant is hereby directed not to disburse the amount of Rs. 25 Cr. deposited by the auction purchaser for the purpose of purchasing the property in question which is....

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....of property 256.84 sq.mtr. car parking 13.75 sq.mtr. 3) KRL-1-7173-2013 Area of property 107.50 sq.mtr. Car parking 13.75 sq.mtr. 4) KRL-1-5072-4-2014 Area of property 239.33 sq.mtr. car parking 1 sq.mtr. 5) KRL-1-7174-2013 area of property 305.01 sq.mtr. car parking 27.05 sq.mtr. 6) KRL-1-7176-2013 area of property 282.49 sq.mtr. car parking 13.75 sq.mtr. 7 Shop No. 3 Vora Apartment, Vallabhbaug Lane, Ghatkopar East, Mumbai-77 (area 375.25 sq.mtr.) Jayesh Shah Nilesh Shah 8 Shop No. 4, Vora Apartment, Vallabhbaug Lane, Ghatkopar East, Mumbai-77 (area 336.25 sq.mtr.) Jayesh Shah Nilesh Shah 9 402, 4th Floor, Kukareja Palace-2, I. Wing, Jayesh Shah Nilesh Shah Jayesh Shah Nilesh Shah Jayesh Shah Document 3 Val....