# In the matter of NSP Hositech India Ltd. (IB)-713(ND)-2018

> NCLT judgment dated 2019-04-04. Citation: TCN-2019-NCLT-04152. The case involves a hearing before the New Delhi Bench of the National Company Law Tribunal on…

- **Court:** NCLT
- **Order date:** 4 Apr 2019
- **Citation:** TCN-2019-NCLT-04152
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/nsp-hositech-india-ltd-ib-713nd-2018-6ce1e52b

## Summary

### Background

The case involves a hearing before the New Delhi Bench of the National Company Law Tribunal on April 4, 2019. The matter pertains to M/s. Mehta Tubes Ltd. versus M/s. NSP Hospitech India Ltd. A reply has been filed by the Ex-Director, and the Resolution Professional (RP) submitted that an immovable property is reflected in the balance sheet of the Corporate Debtor, but the title deeds are in the names of the Directors.

## Facts

The case involves M/s. Mehta Tubes Ltd. versus M/s. NSP Hospitech India Ltd. During the proceedings, the Resolution Professional (RP) submitted that an immovable property is reflected in the balance sheet of the Corporate Debtor, M/s. NSP Hospitech India Ltd. However, the title deeds for this property are executed in the names of the Directors, creating a discrepancy. The Ex-Director has filed a reply. The court is addressing this discrepancy to ensure the Corporate Debtor's assets are properly accounted for and controlled.

## Issues and analysis

### Issue 1: Whether the Resolution Professional should take steps to transfer the property of the Corporate …

**Ratio:** The legal principle is that assets reflected in the balance sheet of a Corporate Debtor

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**Reasoning:** The court reasons that if an immovable property is shown as an asset of the Corporate

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**Interpretation:** This issue involves interpreting the duties and responsibilities of the

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**Application:** The court applies this principle to the specific facts by directing the RP to

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## Parties

- **Judges:** V.K. SUB…; Ina Mal…
- **Appellants:** P. Bhatta…
- **Respondents:** M/s. NSP Hospitech…; Samant…

## Timeline

- **2019-04-04 — Hearing…**: Hearing before the New Delhi Bench of…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 9 — Application for initiation of corporate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-9)

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