The case involves two interlocutory applications (IA No. 3274 of 2026 by land owner Rajinder Singh and IA No. 5865 of 2026 by the IRP of Corporate Debtor ATS Infrabuild Pvt. Ltd.) being heard together in an appeal (CA (AT) (Ins) No. 518 of 2025) filed by the Suspended Director of the CD. Rajinder Singh seeks to exclude his 8.137 acres of land from the CD's CIRP assets, claiming he validly terminated a Joint Development Agreement (JDA) and Power of Attorney (POA) with the CD due to non-performance. The IRP and Financial Creditor (IDBI Trusteeship Services P. Ltd.) contend that the JDA and POA were irrevocable, the termination was invalid, and the development rights constitute CD's assets, which were also mortgaged to the FC.
IA No. 3274 of 2026 was filed by Rajinder Singh, claiming ownership of 8.137 acres of land of Casa Espana Phase-II Project, requesting to intervene and exclude his land from the Corporate Debtor's (CD) assets.
IA No. 5865 of 2026 was filed by the Resolution Professional (RP) of the CD (ATS Infrabuild Pvt. Ltd.) seeking to restrain Rajinder Singh from construction and to vacate the subject property.
Rajinder Singh (land owner) entered into a Joint Development Agreement (JDA) dated 21.11.2017 and a Power of Attorney (POA) dated 21.11.2017 with the CD for development rights over 8.137 acres.
The land owner revoked the JDA on 24.03.2023 and cancelled the POA on 04.05.2023, citing alleged non-performance by the CD for over 6 years.
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Government of Punjab, Department of Housing…
Collaboration agreement dated between Shiwalik…
The case involves two interlocutory applications (IA No. 3274 of 2026 by land owner Rajinder Singh and IA No. 5865 of 2026 by the IRP of Corporate Debtor ATS Infrabuild Pvt. Ltd.) being heard together in an appeal (CA (AT) (Ins) No. 518 of 2025) filed by the Suspended Director of the CD. Rajinder Singh seeks to exclude his 8.137 acres of land from the CD's CIRP assets, claiming he validly terminated a Joint Development Agreement (JDA) and Power of Attorney (POA) with the CD due to non-performance. The IRP and Financial Creditor (IDBI Trusteeship Services P. Ltd.) contend that the JDA and POA were irrevocable, the termination was invalid, and the development rights constitute CD's assets, which were also mortgaged to the FC.
IA No. 3274 of 2026 was filed by Rajinder Singh, claiming ownership of 8.137 acres of land of Casa Espana Phase-II Project, requesting to intervene and exclude his land from the Corporate Debtor's (CD) assets.
IA No. 5865 of 2026 was filed by the Resolution Professional (RP) of the CD (ATS Infrabuild Pvt. Ltd.) seeking to restrain Rajinder Singh from construction and to vacate the subject property.
Rajinder Singh (land owner) entered into a Joint Development Agreement (JDA) dated 21.11.2017 and a Power of Attorney (POA) dated 21.11.2017 with the CD for development rights over 8.137 acres.
The land owner revoked the JDA on 24.03.2023 and cancelled the POA on 04.05.2023, citing alleged non-performance by the CD for over 6 years.
…Government of Punjab, Department of Housing…
Collaboration agreement dated between Shiwalik…