Thursday, 16 May 2024

Mr. Harendra Singh Khokhar Vs Indarprashtha Buildtech Pvt. Ltd. & Anr. - Hon'ble Supreme Court accepted the compromise settlement between the suspended director of CD & sole creditor & closed the CIRP;.

 SCI (2024.05.10) in Mr. Harendra Singh Khokhar Vs Indarprashtha Buildtech Pvt. Ltd. & Anr. [Civil Appeal No. 6777 Of 2022] accepted the compromise settlement between the suspended director of CD & sole creditor & closed the CIRP;.

  • The parties have compromised and settled the matter in terms of the Deed of Settlement dated 01.02.2024. As per the agreement, two demand drafts totaling to Rs.5 crores have been handed over by the learned counsel for the appellant - Harendra Singh Khokhar to the learned counsel for respondent no. 1 - Indraprashtha Buildtech Pvt. Ltd. . . . . .Recording the aforesaid, I.A. no. 31706/2024 is allowed. The Corporate Insolvency Resolution Process against respondent no. 2 – M/s. Anjani Realtors Pvt. Ltd. will be treated as closed.


Excerpts of the order;

A joint application has been filed by the appellant - Harendra Singh Khokhar (Director of the Corporate Debtor/respondent no. 2 – M/s. Anjani Realtors Pvt. Ltd.) and the operational creditor/respondent no. 1 - Indraprashtha Buildtech Pvt. Ltd.


The parties have compromised and settled the matter in terms of the Deed of Settlement dated 01.02.2024. As per the agreement, two demand drafts totaling to Rs.5 crores have been handed over by the learned counsel for the appellant - Harendra Singh Khokhar to the learned counsel for respondent no. 1 - Indraprashtha Buildtech Pvt. Ltd.


By order dated 28.02.2024, we had asked the appellant - Harendra Singh Khokhar to file an affidavit stating as to whether there are any other creditors. As per the affidavit filed by the Resolution Professional – Mr. Piyush Moona, there was only one creditor in the Committee of Creditors, namely, respondent no. 1 - Indraprashtha Buildtech Pvt. Ltd. However, in paragraphs 11 and 12 of the said affidavit, reference has been made to the dues payable  to the Resolution Professionals including the erstwhile Resolution Professional.


Paragraph 11 of the affidavit records that dues of Interim Resolution Professional – Mr. Amit Talwar have been paid by cheque. However, dues of the Resolution Professional – Mr. Piyush Moona have been paid partly to the extent of Rs. 3,26,000/- (Rupees three lakhs twenty-six thousand only).


Learned counsel for the appellant states that the appellant - Harendra Singh Khokhar shall make payment of Rs.5,00,000/- (Rupees five lakhs only) in terms of the affidavit to the Resolution Professional – Mr. Piyush Moona, within a period of ten days from today. In case of non-payment, it will be open to the Resolution Professional – Mr. Piyush Moona to file an application before the National Company Law Tribunal for recovery of this amount. 


Recording the aforesaid, I.A. no. 31706/2024 is allowed. The Corporate Insolvency Resolution Process against respondent no. 2 – M/s. Anjani Realtors Pvt. Ltd. will be treated

as closed.


In view of the order passed above, the appeal is disposed of. There shall be no order as to costs.


Pending application(s), if any, shall stand disposed of.


-------------------------------------------


No comments:

Post a Comment