# In the matter of Ahinsa Buildtech Private Limited IA No. 2932 of 2021 in CP (IB) 3562-MB-2018

> NCLT judgment dated 2022-03-24. Citation: TCN-2022-NCLT-03565. The case involves an application filed under Section 60(5) of the Insolvency and Bankruptcy…

- **Court:** NCLT
- **Order date:** 24 Mar 2022
- **Citation:** TCN-2022-NCLT-03565
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/ahinsa-buildtech-private-limited-ia-no-2932-of-2021-in-cp-ib-3562-mb-2018-9b5f8189

## Summary

### Background

The case involves an application filed under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, concerning a dispute between M/s. Ramdas Shobraj (the Applicant) and Ahinsa Buildtech Private Limited (the Corporate Debtor). The Applicant's family were protected tenants in a 'Subject Shed' since 1964. In 2008, the Corporate Debtor acquired the property, becoming the Applicant's landlord, with plans for redevelopment. A Subject Agreement was executed in 2011, where the Applicant agreed to cooperate with the redevelopment in exchange for a shop in the redeveloped property. The Corporate Debtor's CIRP was initiated, and the Applicant filed a claim for inconvenience charges due to delays in handing over possession of the shop. The Resolution Plan required flat

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## Facts

M/s. Ramdas Shobraj (Applicant) were protected tenants in a 'Subject Shed' since November 1, 1964. Ahinsa Buildtech Private Limited (Corporate Debtor) acquired the property in July 7, 2008, becoming the Applicant's landlord. A 'Subject Agreement' was executed on September 9, 2011, where the Applicant agreed to cooperate with the Corporate Debtor's redevelopment efforts in exchange for a shop in the redeveloped property. The Applicant surrendered their tenancy rights under a Permanent Alternate Accommodation Agreement. The Corporate Debtor's Corporate Insolvency Resolution Process (CIRP) was initiated. The Applicant submitted a claim for Rs. 4,08,29,000/- as inconvenience charges due to delays in handing over possession of the shop, computed from June 13, 2013, to

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## Issues and analysis

### Issue 1: Whether the Applicant, having surrendered their tenancy rights in exchange for a shop in the …

**Ratio:** The legal principle applied is that parties are generally bound by the terms of a

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**Reasoning:** The court reasoned that the Applicant, by entering into the Subject Agreement and

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**Interpretation:** The court interpreted the Subject Agreement and the Resolution Plan in

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**Application:** The court applied the ratio to the specific facts by holding that the

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## Parties

- **Judges:** SUCHITRAKAN…; ANURADHA SANJAY…
- **Appellants:** M/s. Ramdas…
- **Respondents:** Ahinsa Buildtech…; Vijay Pitamber…

## Timeline

- **1964-11-01 — Applicant's…**: The Applicant's family has been in occupation of the 'Subject Shed' since November 1,…
- **2008-07-07 — Property Acqu…**: The Corporate Debtor acquired the property on July 7, 2008, becoming the Applicant's…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 60(5) — Adjudicating Authority for corporate persons](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-60)

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