# In the matter of Universal Buildwell Private Limited

> NCLT judgment dated 2023-09-13. Citation: TCN-2023-NCLT-01636. 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-01636
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/universal-buildwell-private-limited-5fb176ed

## Summary

### Background

The Applicant, IRP of M/s Blaze Promoters Pvt. Ltd., filed an application seeking direction to the Respondent, the Resolution Professional for M/s Universal Buildwell Pvt. Ltd., to handover the asset of M/s Blaze Promoter Pvt. Ltd. (in CIRP), specifically 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 Sale Deed dated 12.01.2011 and a Collaboration Agreement dated 28.09.2008, asserting entitlement to 20% of the total super built-up area of Universal Business Park.

## Facts

Blaze Promoters Pvt. Ltd. (Applicant) filed an application seeking direction to Universal Buildwell Pvt. Ltd. (Respondent) to handover an area of 43,183 Sq. Ft. in Universal Business Park, claiming ownership based on a Sale Deed dated 12.01.2011 and a Collaboration Agreement dated 28.09.2008. The Applicant asserted entitlement to 20% of the total super built-up area. The Respondent argued that the directors of both companies were the same, the Applicant hadn't paid for the land, and the Corporate Debtor had already paid Rs.35.17 Crores as per the Collaboration Agreement. The Respondent also stated that Blaze Promoters never filed a claim during the CIRP. NCLAT's previous orders regarding liquidation value and the sale of area within the project were also considered.

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## Issues and analysis

### Issue 1: Whether the Applicant, Blaze Promoters Pvt. Ltd., is entitled to a direction for the Respondent, …

**Ratio:** The principle is that the Adjudicating Authority will not determine the title of the

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**Reasoning:** The court reasoned that the directors of both the Applicant and the Corporate Debtor were

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

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**Application:** The ratio and reasoning apply to the specific facts because the court found

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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…
- **2008-09-28 — Collaboration…**: Universal Buildwell Private Limited and Blaze Promoters Private Limited entered into a…

## 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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