(2023) ibclaw.in 169 SC
IN THE SUPREME COURT OF INDIA
Pankaj Majithia
v.
Honest Shelters Pvt. Ltd. and Ors.
Civil Appeal No. 8093 of 2023 (SLP(Civil) No. 8674 of 2023) with MA 1612/2023 in C.A. No. 7050/2022 T.P.(C) No. 2050-2056 of 2023
Decided on 06-Dec-23
Coram: Mr. Justice Sanjay Kishan Kaul and Mr. Justice Sudhanshu Dhulia
Judgment/Order:
O R D E R
C.A@ SLP(Civil) No. 8674/2023
Leave granted.
We have heard learned counsel for parties in order to appreciate as to what is that which troubles the parties arising from the impugned order of the High Court.
We may note that a relevant aspect is that on 26.06.2019, a sale certificate was issued under the Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act, 2002 (SARFAESI Act) in terms whereof while giving the description of the immovable property as collectively forming part of plots No. 5B and 6, 142 apartments in the Sky and Manor situated in Worli Estate have been specifically excluded. Reasons for this is that qua these flats the work is assigned to respondent No. 1 and there are flat buyers who made payment in respect thereof. The orders of Real Estate Regulatory Authority (RERA) dated 20.03.2023 and 19.07.2023 required to complete the project and handover possession to the flat owners. The obligations of the flat buyers would be governed by their agreements. It is perceived that the impugned order would amount to revisiting this issue by the NCLT.
We are of the view that since the process by the NCLT under the Insolvency and Bankruptcy Code, 2016 (the “I&B Code, 2016)commences on 06.11.2019 and the sale certificate was issued on 26.06.2019, the rights of respondent No. 1 and the flat buyers cannot be affected by this process. Thus the NCLT is not to examine these aspects which apparently troubles the parties.
In view of our order aforesaid, we believe that there is clarity on this aspect and no further directions are required in that behalf and respondent No. 1 will proceed in pursuance to the RERA orders. The impugned order stands modified/clarified to that extent.
The Official Liquidator will take necessary action to facilitate the working out of the aforesaid RERA Orders.
The appeal stands disposed of.
All applications stand disposed of in view of order passed above.
MA 1612/2023 in C.A. No. 7050/2022
Learned counsel for the applicant states on instructions, that he wishes not to press this application in view of the perception of the applicant as to what it can do otherwise.
The application is dismissed as withdrawn.
MA stands disposed of.
Pending applications stand disposed of.
T.P.(C) No. 2050-2056/2023
Learned counsel for the petitioner cannot dispute that really nothing survives in these petitions in view of the orders passed in civil appeal arising out of SLP(civil) No. 8674/2023 as the problem arising from multiplicity of proceedings has been sorted out vide that order.
The transfer petitions stand disposed of.
Pending applications stand disposed of.
………………..J.
[SANJAY KISHAN KAUL]
………………..J.
[SUDHANSHU DHULIA]
NEW DELHI,
DECEMBER 06,2023
Original judgment copy is available here.
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