# In the matter of Harish Raghavji Patel & Anr. vs. Ajit Gyanchand Jain

> NCLAT judgment dated 2025-05-15. Citation: TCN-2025-NCLAT-00037. This case involves an appeal against an order passed by the Adjudicating Authority (National…

- **Court:** NCLAT
- **Order date:** 15 May 2025
- **Citation:** TCN-2025-NCLAT-00037
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/harish-raghavji-patel-anr-vs-ajit-gyanchand-jain-dac473ec

## Summary

### Background

This case involves an appeal against an order passed by the Adjudicating Authority (National Company Law Tribunal), Mumbai Bench, Court-II, which allowed IA No.4820 of 2024. The appeal was filed by two suspended directors of the Corporate Debtor, challenging the order that directed them to hand over possession of Flat Nos. 601 and 1101 of Project Kailash Niwas to the Interim Resolution Professional (IRP). The CIRP against the Corporate Debtor, Rajesh Cityspaces Private Limited, had commenced on 15.01.2024. The IRP sought assistance in obtaining peaceful physical possession of the assets of the Corporate Debtor.

## Facts

On 15.01.2024, CIRP commenced against Rajesh Cityspaces Private Limited. Ajit Gyanchand Jain was appointed as the IRP. On 31.05.2024, the IRP requested the suspended Board of Directors, including the Appellants, to hand over possession of a property admeasuring 20,881 sq. ft. The IRP filed IA No.4820 of 2024 on 12.08.2024, seeking physical possession. Notices were issued on 08.10.2024. Rajesh Raghavji Patel, a suspended Director, stated that Flat Nos. 601 and 1101 were in the Appellants' possession based on a Board Resolution dated 14.09.2017. The Adjudicating Authority heard the parties and allowed IA No.4820 of 2024 on 22.04.2025, directing the Appellants to hand over possession of Flat Nos. 601 and 1101. The Appellants claim possession based on a Board Resolution

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## Issues and analysis

### Issue 1: Whether the Adjudicating Authority was correct in directing the Appellants to hand over possession …

**Ratio:** Section 18 of the Insolvency and Bankruptcy Code (IBC) empowers the IRP to take control

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**Reasoning:** The court reasoned that the flats were owned by the Corporate Debtor, and the IRP was

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**Interpretation:** The court interpreted Section 18 of the IBC to mean that the IRP has a duty to

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**Application:** The court applied the ratio to the facts of the case, finding that the IRP was

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## Parties

- **Judges:** Ashok Bh…; Barun M…; +1 more
- **Appellants:** Harish Raghavji…
- **Respondents:** Rajesh Cityspaces…; Ajit Gyanchand…

## Timeline

- **2017-09-14 — Board Reso…**: Board Resolution passed permitting…
- **2024-01-15 — CIRP Commen…**: CIRP commenced against Rajesh…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 60(5) — Adjudicating Authority for corporate persons](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-60)

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