# In the matter of Radius & Deserve Land Developers Private Limited

> NCLT judgment dated 2025-03-04. Citation: TCN-2025-NCLT-00405. The case involves an application (IA 2111/2024) filed in C.P. (I.B) No. 892/MB/2022 under…

- **Court:** NCLT
- **Order date:** 4 Mar 2025
- **Citation:** TCN-2025-NCLT-00405
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/radius-deserve-land-developers-private-limited-14cc4db1

## Summary

### Background

The case involves an application (IA 2111/2024) filed in C.P. (I.B) No. 892/MB/2022 under Section 60(5) of the Insolvency and Bankruptcy Code, 2016. Aegis Resolution Service Private Limited, the Resolution Professional (RP) of Radius & Deserve Land Developers Private Limited (the Corporate Debtor), filed the application against the Slum Rehabilitation Authority (SRA), Mumbai Metropolitan Region Development Authority (MMRDA), and the Government of Maharashtra. The RP sought a declaration that the Corporate Debtor's property cannot be handed over to the Respondents during the Corporate Insolvency Resolution Process (CIRP) due to the moratorium under Section 14 of the IBC. The RP also sought directions for the Respondents to provide information and documents requested

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## Facts

Radius & Deserve Land Developers Private Limited is undergoing CIRP, with Aegis Resolution Service Private Limited acting as the Resolution Professional (RP). The Slum Rehabilitation Authority (SRA) and Mumbai Metropolitan Region Development Authority (MMRDA) initiated steps to acquire land owned by the Corporate Debtor for constructing a four-lane tunnel road connecting Thane to Borivali. On 08.02.2024, SRA informed the Corporate Debtor that land bearing Survey Nos. 264 and 269 was required to be handed over to MMRDA and directed the RP to provide a 'No Objection Certificate' and an affidavit to transfer ownership rights. The RP informed SRA on 16.02.2024 that the Corporate Debtor had been admitted into CIRP on 03.05.2023, and a moratorium was in effect,

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## Issues and analysis

### Issue 1: Whether the proposed acquisition of the Corporate Debtor's land by the Respondents (SRA, MMRDA, and …

**Ratio:** The moratorium under Section 14 of the IBC is intended to safeguard the assets of the

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**Reasoning:** The court reasoned that the proposed land acquisition for a public purpose (the four-lane

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**Interpretation:** Section 14 of the IBC imposes a moratorium on actions against the Corporate

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**Application:** In this case, the court found that the proposed land acquisition for the

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## Parties

- **Judges:** Reeta K…; Madhu S…
- **Appellants:** Aegis Resolution…
- **Respondents:** Radius & Deserve…; Slum Rehabilitatio…

## Timeline

- **2023-05-03 — Admission in…**: Corporate Debtor…
- **2024-02-08 — SRA Lett…**: SRA informs Corporate Debtor that…

## 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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