# In the matter of Universal Buildwell Private Limited

> NCLT judgment dated 2023-09-13. Citation: TCN-2023-NCLT-01653. The Applicant, IRP of M/s Blaze Promoters Pvt. Ltd., filed an application seeking direction to…

- **Court:** NCLT
- **Order date:** 13 Sept 2023
- **Citation:** TCN-2023-NCLT-01653
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/universal-buildwell-private-limited-0d1f2100

## Summary

### Background

The Applicant, IRP of M/s Blaze Promoters Pvt. Ltd., filed an application seeking direction to the Respondent, Resolution Professional for M/s Universal Buildwell Pvt. Ltd., to handover an area measuring 43,183 Sq. Ft. in Universal Business Park Project at Badhshahpur, Gurugram, Haryana, based on Section 18 of IBC, 2016. The Applicant claimed ownership of the property based on a Collaboration Agreement and a Sale Deed. The Respondent contested the claim, stating that the Directors of both companies are the same, the Applicant paid no consideration for the land, and the Corporate Debtor paid Rs.35.17 Crores as consideration as per Clause 14 of the Collaboration Agreement. The RP also argued that the Applicant's claim contradicts the balance sheet of Blaze Promoters and

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## Facts

Blaze Promoters Pvt. Ltd., the Applicant, claimed ownership of 43,183 Sq. Ft. in Universal Business Park Project at Badhshahpur, Gurugram, Haryana, based on a Collaboration Agreement dated 28.09.2008 and a Sale Deed dated 12.01.2011. Universal Buildwell Private Limited, the Corporate Debtor, was undergoing CIRP. The Applicant sought direction from the NCLT to the RP of Universal Buildwell to handover the said area. The RP of Universal Buildwell opposed the application, contending that the directors of both companies are the same, Blaze Promoters paid no consideration for the land, and Universal Buildwell paid Rs.35.17 Crores as consideration. The RP also argued that the Applicant's claim contradicted the balance sheet of Blaze Promoters and that the RP received no

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## Issues and analysis

### Issue 1: Whether the Applicant, Blaze Promoters Pvt. Ltd., is entitled to the handover of 43,183 Sq. Ft. in …

**Ratio:** The principle is that the applicant must establish a clear legal right to the property

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**Reasoning:** The NCLT reasoned that the Applicant failed to establish a clear legal right to the

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**Interpretation:** This issue involves the interpretation of the Collaboration Agreement, Sale

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**Application:** The court applied the principle to the facts by examining the Collaboration

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## Parties

- **Judges:** SH. ASHOK KUMAR…; SH. L. N.…
- **Appellants:** Pallavi Joshi…
- **Respondents:** Universal…

## Timeline

- **2018-07-03 — CIRP Admi…**: Universal Buildwell Private Limited was admitted into the corporate insolvency resolution…
- **2019-12-05 — Resolution Plan…**: A resolution plan was…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 18 — Duties of interim resolution professional](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-18)

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