# In the matter of Gigeo Construction Company Pvt. Ltd.

> NCLT judgment dated 2025-08-13. Citation: TCN-2025-NCLT-01249. The application IA 1404/2025 was filed by the Resolution Professional, Pankaj Bhattad, against…

- **Court:** NCLT
- **Order date:** 13 Aug 2025
- **Citation:** TCN-2025-NCLT-01249
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-mumbai/gigeo-construction-company-pvt-ltd-d5aff820

## Summary

### Background

The application IA 1404/2025 was filed by the Resolution Professional, Pankaj Bhattad, against M/s Home Grid through its Proprietor Mrs. Hetal Chandan Madan, under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, seeking to direct the Respondent to vacate the property leased from the Corporate Debtor.

## Facts

The Corporate Insolvency Resolution Process (CIRP) of Gigeo Construction Company Private Limited was initiated on 04.06.2024.

The Corporate Debtor and the Respondent entered into a Leave and License agreement dated 01.07.2023 for a period of 3 years.

The property leased to the Respondent was located on the 4th floor of Fortune Mall, which was designated as a car parking area according to RERA sanctioned plans.

The Applicant (RP) asked the Respondent to vacate the premises due to the violation of RERA sanctioned plans.

The Respondent refused to vacate the property, alleging misconduct by the Corporate Debtor's management.

The Respondent claimed to have made substantial investments in the premises for a furniture showroom.

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## Issues and analysis

### Issue 1: Whether the Tribunal has jurisdiction to adjudicate the matter under Section 60(5) of the …

**Ratio:** The NCLT has been conferred with jurisdiction to decide all types of claims to property

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**Reasoning:** The Corporate Debtor is the owner of the assets, and there is no cloud over the title of

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**Interpretation:** Section 18(1)(f)(vi) provides assets subject to the determination of ownership

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**Application:** The Tribunal has jurisdiction to adjudicate the matter as it relates to the

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## Parties

- **Judges:** Prabhat…; Sushil Mahadeorao…
- **Appellants:** Pankaj Bh…; Omkara Assets…
- **Respondents:** Gigeo Construction…; Home…; +1 more
- **Other parties:** Chhaga…; Ritesh R. M…
- **Advocates:** Utsav Muk…; Shivam…; +4 more

## Timeline

- **2024-06-04 — Initiation…**: Corporate Insolvency Resolution Process…
- **2023-07-01 — Leave and License…**: Corporate Debtor and the Respondent…

## 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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