Ownership claims in insolvency require title verification before possession, protecting pre-CIRP purchasers pending RP review.
Third-party purchasers with registered sale deeds executed before CIRP may assert ownership against assets claimed by a corporate debtor; the Resolution Professional must verify original title documents to determine whether disputed units are part of the corporate debtor's estate, and is restrained from taking possession of units claimed by such purchasers until verification is complete, highlighting the need for effective notice and rigorous title diligence during insolvency. (AI Summary)

Tax refunds during CIRP must be treated as corporate debtor assets and transferred to the resolution professional's account.
Tax refunds received during the Corporate Insolvency Resolution Process form part of the corporate debtor's estate and are under the control of the Resolution Professional; banks and other third parties may not withhold such receipts on the basis of a security interest but must pursue or relinquish security under the Insolvency and Bankruptcy Code, and non-compliance with transfer directions may attract contempt proceedings. (AI Summary)

Privity of contract: subcontractors may seek writ relief when state conduct and fairness create enforceable expectations against the government.
Where a public authority awards work to a government undertaking that lawfully subcontracts, the State's conduct can create a derivative obligation to the subcontractor and estop the State from denying the subcontract's validity; principles of natural justice-fairness and non arbitrariness-permit writ jurisdiction when governmental delay or contradictory conduct frustrates the subcontractor's legitimate expectation of payment and civil remedies would be futile. (AI Summary)