The case involves an application filed under Section 60(5) of the Insolvency and Bankruptcy Code, 2016 (IBC, 2016) r.w. Rule 11 of NCLT Rules, 2016. The applicant sought a direction from the court to the respondent-liquidator to execute necessary documents to transfer the title/ownership of certain plots (Plot no. 88 to 97 and 97/1 to 97/4) in the applicant's favor, as agreed upon in agreements dated 05.10.2013 and 10.03.2014. The applicant claimed to be the owner of the property based on an agreement with the Corporate Debtor. Before the title could be transferred, the Corporate Debtor was admitted into CIRP on 30.08.2017 and subsequently went into liquidation on 27.02.2018. The applicant corresponded with the liquidator, who requested confirmation that the plots had
…Vivid Prints Pvt. Ltd. (the Applicant) entered into an agreement with Sarthak Creation Pvt. Ltd. (the Corporate Debtor) on 05.10.2013 for the purchase of certain plots (Plot no. 88 to 97 and 97/1 to 97/4). A revised agreement was made on 10.03.2014. Before the title could be transferred, the Corporate Debtor was admitted into CIRP on 30.08.2017 and subsequently went into liquidation on 27.02.2018. The Applicant made payments to GIDC (Gujarat Industrial Development Corporation) amounting to Rs. 5,30,11,296/- and received a no dues certificate from GIDC. The Applicant requested Kailash Shah, the Liquidator of Sarthak Creation Pvt. Ltd. (the Respondent), to execute the necessary documents for the transfer of title. The Liquidator requested the Applicant to confirm that
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The case involves an application filed under Section 60(5) of the Insolvency and Bankruptcy Code, 2016 (IBC, 2016) r.w. Rule 11 of NCLT Rules, 2016. The applicant sought a direction from the court to the respondent-liquidator to execute necessary documents to transfer the title/ownership of certain plots (Plot no. 88 to 97 and 97/1 to 97/4) in the applicant's favor, as agreed upon in agreements dated 05.10.2013 and 10.03.2014. The applicant claimed to be the owner of the property based on an agreement with the Corporate Debtor. Before the title could be transferred, the Corporate Debtor was admitted into CIRP on 30.08.2017 and subsequently went into liquidation on 27.02.2018. The applicant corresponded with the liquidator, who requested confirmation that the plots had
…Vivid Prints Pvt. Ltd. (the Applicant) entered into an agreement with Sarthak Creation Pvt. Ltd. (the Corporate Debtor) on 05.10.2013 for the purchase of certain plots (Plot no. 88 to 97 and 97/1 to 97/4). A revised agreement was made on 10.03.2014. Before the title could be transferred, the Corporate Debtor was admitted into CIRP on 30.08.2017 and subsequently went into liquidation on 27.02.2018. The Applicant made payments to GIDC (Gujarat Industrial Development Corporation) amounting to Rs. 5,30,11,296/- and received a no dues certificate from GIDC. The Applicant requested Kailash Shah, the Liquidator of Sarthak Creation Pvt. Ltd. (the Respondent), to execute the necessary documents for the transfer of title. The Liquidator requested the Applicant to confirm that
…Agreement between the…
Revised agreement…