# In the matter of Deegee Cotsyn Private Limited IA 1699 & 2094 of 2020 in CP (IB) 2285-MB-C-II-2018

> NCLT judgment dated 2022-03-11. Citation: TCN-2022-NCLT-03772. The case involves IA 1699/2020 and IA 2094/2020 in CP (IB) 2285/MB/C-II/2018 before the NCLT…

- **Court:** NCLT
- **Order date:** 11 Mar 2022
- **Citation:** TCN-2022-NCLT-03772
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/deegee-cotsyn-private-limited-ia-1699-2094-of-2020-in-cp-ib-2285-mb-c-ii-2018-c2cda971

## Summary

### Background

The case involves IA 1699/2020 and IA 2094/2020 in CP (IB) 2285/MB/C-II/2018 before the NCLT Mumbai Bench, Court-II. Mr. Nishant Singhal filed IA 1699/2020 seeking compliance with prior orders regarding rent payments. Mr. Naval Kumar Bhoot, an ex-director of the Corporate Debtor, filed IA 2094/2020 alleging fraudulent transactions by Mr. Singhal related to land purchase and rent agreements. The Resolution Professional also raised objections to Mr. Singhal's claims. The core dispute revolves around a sale deed and subsequent rent agreement between Mr. Singhal and the Corporate Debtor, with allegations of sham transactions to siphon funds.

## Facts

Mr. Naval Kumar Bhoot, an ex-director of the Corporate Debtor, filed IA 2094/2020 seeking directions against the Resolution Professional. He sought a forensic audit of staff quarters and alleged fraud by Mr. Nishant Singhal. He also sought recovery of Rs. 35,25,000/- from Respondent No. 2 and rejection of Respondent No. 2's claim of Rs. 18,56,348/- for alleged rent arrears. Mr. Nishant Singhal filed IA 1699/2020 seeking compliance with prior orders regarding rent payments. The Corporate Debtor entered into a rent agreement (Rent Note) dated April 12, 2018, with Respondent No. 2, agreeing to pay monthly rent of Rs. 1,55,000/-. Phoenix Asset Reconstruction Company Private Limited filed a company petition against the Corporate Debtor, which was admitted under CIRP on

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## Issues and analysis

### Issue 1: Whether the Resolution Professional should be directed to comply with prior orders regarding rent …

**Ratio:** The Resolution Professional is supposed to verify and not adjudicate upon the claim made

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**Reasoning:** The court found that the objections raised by the Resolution Professional regarding the

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**Interpretation:** The Resolution Professional's role is to verify claims, not to adjudicate their

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**Application:** The court initially directed the Resolution Professional to include the rent

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## Parties

- **Judges:** P.N. Deshmukh…; Shyam Babu…
- **Appellants:** Nishant S…
- **Respondents:** Deegee Cotsyn…

## Timeline

- **2015-02-18 — Sale Dee…**: Sale deed executed between Narendra…
- **2018-04-12 — Rent Not…**: Rent agreement (Rent Note) entered into…

## 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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