The applicant, Prabhat Ranjan, filed an application under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, seeking a declaration that a specific plot of land (Plot No. R-05) is not part of the liquidation estate of Phadnis Properties Limited (Corporate Debtor). The applicant had entered into a Development Agreement with the Corporate Debtor for the development of the property.
Mr. Prabhat Ranjan filed an application seeking a declaration that a specific plot of land is not part of the liquidation estate of Phadnis Properties Limited.
The applicant had entered into a Development Agreement with the Corporate Debtor for the development of the property.
The Corporate Debtor was admitted into CIRP, and subsequently, liquidation proceedings were initiated.
The applicant issued a notice for termination of the Development Agreement during the liquidation period.
The Corporate Debtor had mortgaged the property in favor of Respondent No.3.
The applicant claims that the property is still owned by him and should not be included in the liquidation estate.
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Applicant entered into…
Corporate Debtor was…
The applicant, Prabhat Ranjan, filed an application under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, seeking a declaration that a specific plot of land (Plot No. R-05) is not part of the liquidation estate of Phadnis Properties Limited (Corporate Debtor). The applicant had entered into a Development Agreement with the Corporate Debtor for the development of the property.
Mr. Prabhat Ranjan filed an application seeking a declaration that a specific plot of land is not part of the liquidation estate of Phadnis Properties Limited.
The applicant had entered into a Development Agreement with the Corporate Debtor for the development of the property.
The Corporate Debtor was admitted into CIRP, and subsequently, liquidation proceedings were initiated.
The applicant issued a notice for termination of the Development Agreement during the liquidation period.
The Corporate Debtor had mortgaged the property in favor of Respondent No.3.
The applicant claims that the property is still owned by him and should not be included in the liquidation estate.
…Applicant entered into…
Corporate Debtor was…