M/S GBP DEVELOPERS PVT. LTD. filed an Interlocutory Application (IA No. 1998/2024) under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, seeking exclusion of certain parcels of land from the Corporate Insolvency Resolution Process (CIRP) of M/s Gupta Builders and Promoters Private Limited.
M/S GBP DEVELOPERS PVT. LTD. filed IA No. 1998/2024 seeking exclusion of land from the CIRP of M/s Gupta Builders and Promoters Private Limited.
M/S GBP DEVELOPERS PVT. LTD. claimed ownership of the land based on sale deeds from 2017 and a JDA with the Corporate Debtor.
M/S GBP DEVELOPERS PVT. LTD. alleged that the Corporate Debtor fraudulently acquired ownership through a forged Board Resolution and Sale Deed.
The Resolution Professional, Mukesh Gupta, argued that the application was not maintainable and that the dispute was civil in nature.
CIRP commenced on 31.05.2022, and the resolution plan was approved by the CoC in April 2023.
The applicant had filed a civil suit regarding the land, but it was barred due to the moratorium under Section 14 of the IBC.
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M/S GBP DEVELOPERS PVT. LTD. filed an Interlocutory Application (IA No. 1998/2024) under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, seeking exclusion of certain parcels of land from the Corporate Insolvency Resolution Process (CIRP) of M/s Gupta Builders and Promoters Private Limited.
M/S GBP DEVELOPERS PVT. LTD. filed IA No. 1998/2024 seeking exclusion of land from the CIRP of M/s Gupta Builders and Promoters Private Limited.
M/S GBP DEVELOPERS PVT. LTD. claimed ownership of the land based on sale deeds from 2017 and a JDA with the Corporate Debtor.
M/S GBP DEVELOPERS PVT. LTD. alleged that the Corporate Debtor fraudulently acquired ownership through a forged Board Resolution and Sale Deed.
The Resolution Professional, Mukesh Gupta, argued that the application was not maintainable and that the dispute was civil in nature.
CIRP commenced on 31.05.2022, and the resolution plan was approved by the CoC in April 2023.
The applicant had filed a civil suit regarding the land, but it was barred due to the moratorium under Section 14 of the IBC.
Applicant entered into a JDA with the Corporate…
Applicant alleges that…