# In the matter of New Okhla Industrial Development Authority Vs. Abhishek Anand
Liquidator of Mega Soft Infrastructure
Pvt. Ltd. Company Appeal (AT) (Insolvency) No. 998 of 2021

> NCLAT judgment dated 2022-04-19. Citation: TCN-2022-NCLAT-00527. The case involves an appeal against an order dated 14.10.2021 passed by the National Company…

- **Court:** NCLAT
- **Order date:** 19 Apr 2022
- **Citation:** TCN-2022-NCLAT-00527
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/new-okhla-industrial-development-authority-vs-abhishek-anand-liquidator-of-mega-9b727bba

## Summary

### Background

The case involves an appeal against an order dated 14.10.2021 passed by the National Company Law Tribunal (NCLT), New Delhi, regarding the transfer of a plot of land. The New Okhla Industrial Development Authority (Appellant) had allotted a plot to Mega Soft Infrastructure Pvt. Ltd. (Corporate Debtor). Corporate Insolvency Resolution Process (CIRP) was initiated against the Corporate Debtor, and the Liquidator issued an E-Auction Sale Notice for the plot. The Appellant claimed pending dues and informed the Liquidator about the pendency of a suit. The Liquidator filed an application before the Adjudicating Authority seeking directions to transfer the plot to the auction purchaser. The Appellant objected, citing its transfer policy. The Adjudicating Authority directed

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## Facts

New Okhla Industrial Development Authority (Appellant) allotted Plot No.02/2 to Mega Soft Infrastructure Pvt. Ltd. (Corporate Debtor). Neelam Singh filed a company petition, initiating Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor. The Adjudicating Authority ordered liquidation of the Corporate Debtor on 28.02.2018 and appointed the Respondent as Liquidator. The Liquidator issued an E-Auction Sale Notice of the Plot. The Appellant claimed Rs.20,50,000/- as pending dues. The Liquidator informed the Appellant that the plot was put to E-Auction on 04.01.2021, with Groovy Structures LLP ranked H1. The Appellant claimed Rs.40,50,108/- as due against the plot. The Liquidator filed I.A. No.1612 of 2021 seeking directions to transfer the plot to

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## Issues and analysis

### Issue 1: Whether the Adjudicating Authority's direction to transfer the plot to the auction purchaser …

**Ratio:** The direction issued by the Adjudicating Authority in paragraph 8(a) has to be read to

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**Reasoning:** The court reasoned that the NCLT's order allowing the application for transfer does not

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**Interpretation:** The interpretation is that the direction to transfer is not absolute but

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**Application:** The court applied this reasoning to the specific facts by directing the

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## Parties

- **Judges:** Ashok Bh…; Alok Sriv…; +1 more
- **Appellants:** New Okhla…
- **Respondents:** Mega Soft…; Abhishek…

## Timeline

- **2017-08-23 — CIRP Init…**: Adjudicating Authority initiated Corporate Insolvency Resolution Process (CIRP) against…
- **2018-02-28 — Liquidation…**: Adjudicating Authority ordered liquidation of the Corporate Debtor and appointed the…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 61 — Appeals and Appellate Authority](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-61)

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