This case involves an appeal against an order passed by the National Company Law Tribunal (NCLT), Kolkata Bench, regarding the vacation of property occupied by Nandini Impex Private Limited (Corporate Debtor) during the Corporate Insolvency Resolution Process (CIRP). The NCLT had directed the Resolution Professional (RP) to hand over possession of the 'White House' property, which served as the corporate office of the Corporate Debtor, to its owners (Respondents 2-4). The appellant, Chandrakant Khemka, the ex-promoter director of the Corporate Debtor, challenged this order, arguing that it violated Section 14 of the Insolvency and Bankruptcy Code (IBC), which provides for a moratorium on actions against the Corporate Debtor during CIRP.
Nandini Impex Private Limited (Corporate Debtor) occupied a property known as the 'White House' in Delhi, which served as its corporate office. Respondents 2-4 were the owners of the property, having leased it to the Corporate Debtor for a monthly fee. The Corporate Debtor defaulted on payments, leading to the termination of the lease agreements on 08.05.2020. Despite the termination, the Corporate Debtor continued to occupy the property. UCO Bank initiated CIRP against the Corporate Debtor, which was admitted on 20.09.2022. During the CIRP, Respondents 2-4 filed applications seeking eviction of the Corporate Debtor from the property. The NCLT directed the RP to hand over possession of the property to Respondents 2-4. The appellant, the ex-promoter director of the
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This case involves an appeal against an order passed by the National Company Law Tribunal (NCLT), Kolkata Bench, regarding the vacation of property occupied by Nandini Impex Private Limited (Corporate Debtor) during the Corporate Insolvency Resolution Process (CIRP). The NCLT had directed the Resolution Professional (RP) to hand over possession of the 'White House' property, which served as the corporate office of the Corporate Debtor, to its owners (Respondents 2-4). The appellant, Chandrakant Khemka, the ex-promoter director of the Corporate Debtor, challenged this order, arguing that it violated Section 14 of the Insolvency and Bankruptcy Code (IBC), which provides for a moratorium on actions against the Corporate Debtor during CIRP.
Nandini Impex Private Limited (Corporate Debtor) occupied a property known as the 'White House' in Delhi, which served as its corporate office. Respondents 2-4 were the owners of the property, having leased it to the Corporate Debtor for a monthly fee. The Corporate Debtor defaulted on payments, leading to the termination of the lease agreements on 08.05.2020. Despite the termination, the Corporate Debtor continued to occupy the property. UCO Bank initiated CIRP against the Corporate Debtor, which was admitted on 20.09.2022. During the CIRP, Respondents 2-4 filed applications seeking eviction of the Corporate Debtor from the property. The NCLT directed the RP to hand over possession of the property to Respondents 2-4. The appellant, the ex-promoter director of the
…First Memorandum of Understanding (MoU)…
Second Memorandum of Understanding (MoU)…