# In the matter of Unishire Lifestyle Dwellings LLP

> NCLT judgment dated 2024-03-28. Citation: TCN-2024-NCLT-01912. This case involves an application filed by the Resolution Professional (RP) of Unishire…

- **Court:** NCLT
- **Order date:** 28 Mar 2024
- **Citation:** TCN-2024-NCLT-01912
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/unishire-lifestyle-dwellings-llp-17a235dc

## Summary

### Background

This case involves an application filed by the Resolution Professional (RP) of Unishire Lifestyle Dwellings LLP, a Corporate Debtor (CD), under Section 60(5) of the Insolvency and Bankruptcy Code (I&B Code), 2016. The RP sought a direction to the Respondents to remove illegal temporary construction on the Schedule Property and permit the RP to take possession. The Corporate Insolvency Resolution Process (CIRP) was initiated against the CD on 08.03.2022. The CD had entered into a Joint Development Agreement (JDA) and General Power of Attorney (GPA) with the Respondents for developing properties in Jakkur Village, Bengaluru. Disputes arose, with the Respondents claiming the JDA and GPA had expired and initiating legal proceedings in civil court. The RP argued that

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## Facts

M/s. Unishire Lifestyle Dwellings LLP (Corporate Debtor) entered into a Joint Development Agreement (JDA) and General Power of Attorney (GPA) with landowners (Respondents) for property development in Jakkur Village, Bengaluru. The properties are Survey No. 85/7B and Survey No. 85/6, totaling 2 acres 21 guntas, referred to as the "Schedule Property." The JDA was executed on 13.09.2013 and registered. The Corporate Debtor paid a non-refundable Security Deposit of Rs.20,00,000. The Corporate Debtor obtained possession of the Schedule Property for development and secured necessary approvals for construction. Disputes arose, and the landowners (Respondents) claimed the JDA and GPA had expired, issuing a legal notice of cancellation on 16.08.2017. They also

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## Issues and analysis

### Issue 1: Whether the Respondents could unilaterally cancel the registered Joint Development Agreement (JDA) …

**Ratio:** A registered document cannot be unilaterally cancelled by one party. Reliance was placed

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**Reasoning:** The court reasoned that the JDA and GPA were registered documents, and the Respondents'

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**Interpretation:** This principle reinforces the sanctity of registered documents and prevents

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**Application:** The court applied this principle to the facts, holding that the Respondents

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## Parties

- **Judges:** K. Bi…; Manoj Kumar…
- **Appellants:** Ratnakar…
- **Respondents:** M/s. Unishire…; A. Anil…

## Timeline

- **2013-09-13 — Execution of JD…**: The Joint Development Agreement (JDA) and General Power of Attorney (GPA) were executed…
- **2017-08-16 — Legal Notice of…**: The Respondents issued a legal…

## 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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