Supreme Court - Daily Orders
Pawan Kumar vs M/S Raheja Developers Ltd. on 10 January, 2020
Bench: Uday Umesh Lalit, Vineet Saran
1
ITEM NO.30 COURT NO.6 SECTION XVII-A
S U P R E M E C O U R T O F I N D I A
RECORD OF PROCEEDINGS
Civil Appeal No.6853/2018
PAWAN KUMAR & ANR. Appellant(s)
VERSUS
M/s. RAHEJA DEVELOPERS LTD. & ANR. Respondent(s)
(IA No.166870/2019 – FOR APPROPRIATE ORDERS/DIRECTIONS; IA
No.99640/2018 – FOR APPROPRIATE ORDERS/DIRECTIONS; IA
No.169614/2019 – FOR PERMISSION TO FILE ADDITIONAL
DOCUMENTS/FACTS/ANNEXURES; and, IA No.166871/2019 – FOR PERMISSION
TO FILE ADDITIONAL DOCUMENTS/FACTS/ANNEXURES)
Date : 10-01-2020 This matter was called on for hearing today.
CORAM :
HON'BLE MR. JUSTICE UDAY UMESH LALIT
HON'BLE MR. JUSTICE VINEET SARAN
For Appellant(s) Mr. P.N. Misra, Sr. Adv.
Mr. Abdhesh Chaudhary, Adv.
Mr. Harikesh Singh, Adv.
Mr. Satyendra Kumar, AOR
Mr. Manav Sharma, Adv.
For Respondent(s) Mr. Salman Khurshid, Sr. Adv.
Mr. Abhay Kumar, AOR
Mr. Vineet Kr. Singh, Adv.
Ms. Kunika, Adv.
Ms. Lubna Naaz,Adv.
Ms. Jyoti Singh, Adv.
Ms. Aadya Mishra, Adv.
Ms. Tehsheena Z. Hussain, Adv.
Mr. Kumar Milind, Adv.
UPON hearing the counsel the Court made the following
O R D E R
The instant matter was adjourned on few occasions as it was Signature Not Verified submitted before this Court that in the pending matter before the Digitally signed by MUKESH KUMAR Date: 2020.01.11 19:18:59 IST Reason: National Company Law Appellate Tribunal, New Delhi, the arguments were concluded and the judgment was reserved.
2It is now submitted by the learned counsel that the judgment has not yet been delivered by the National Company Law Appellate Tribunal.
One of the grievances raised by Mr. P.N. Misra, learned Senior Advocate appearing for the appellants, as noted in the order dated 18.12.2019, was that the respondent has been continuing with its activities and accepting deposits and payments from various persons and also accepting fresh bookings of the apartments. Confronted with this, learned counsel for the respondent had relied upon the order dated 03.09.2019 which permitted the respondent company to continue as a going concern. Said order had partly vacated the earlier interim order dated 27.08.2019 and allowed the Interim Resolution Professional to issue Public Notice calling for claims.
Thus, interim stay was granted on 27.08.2019 on two counts, viz. injuncting the Interim Resolution Professional (i) from issuing Public Notice, and (ii) from constituting Committee of Creditors. By virtue of order dated 03.09.2019, relaxation was only with respect to the first point, permitting the Interim Resolution Professional to issue Public Notice.
The operative part of the directions issued by the National Consumer Disputes Redressal Commission, New Delhi, in the present matter is to the following effect:
“(i) The opposite party shall complete the construction of the residential area allotted/allocated to the complainants, in the project ‘Raheja Oma’, in all respects and obtain the requisite occupancy certificate thereof on or before 30.06.2020.3
(ii) The opposite party, after completing the construction and obtaining the requisite occupancy certificate place the said area at the disposal of the complainants on or before 30.09.2020.
(iii) The opposite party shall pay compensation calculated @ Rs.7/- per sq. ft. per month of the super area allotted/allocated to the complainants with effect from 17.4.2016 till the date on which the said residential area in the project ‘Raheja Oma’ is placed at the disposal of the complainants, in terms of this order.
(iv) The compensation shall be paid at the time the constructed area in terms of this order is placed at the disposal of the complainants.” One of the directions, namely, direction no.(iii) contemplated compensation @ Rs.7/- per sq. ft. from 17.04.2016.
Though the amount is to be paid at the time the constructed area is placed at the disposal of the complainants, as of now, on this count the liability would be well over Rs.four crores. The order passed by the National Commission is not challenged by the by the respondent.
If the respondent as an entity, is allowed to function as a going concern and accept the deposits in respect of fresh bookings, as a logical corollary, the obligation that it had undertaken in respect of other creditors must also be discharged.
It was stated by Mr. Salman Khursid, learned Senior Advocate on behalf of the respondent that the permission to continue the activities as a going concern was subject to the rider that everything had to be under the effective control of the Interim Resolution Professional, namely, Mr. Jitesh Gupta (Resident of # 257, Vardhman City Centre-II, Near Shakti Nagar Railway Under- Bridge, Delhi-110052, Mobile No.9810043622). 4
In the circumstances, before we finally decide the matter, we call upon Mr. Jitesh Gupta, Interim Resolution Professional as well as Mr. Navin Raheja, the suspended Managing Director of the respondent Company to place on record by way of their affidavits following aspects of the matter:
a) How the respondent entity is being allowed to function as a going concern and to what extent the Interim Resolution Professional is exercising his control over the matter;
b) How much money has actually been received by the respondent company while exercising its function as a going concern;
c) How the money has been accounted for and whether the entirety of the money is completely secured under the directions of the Interim Resolution Professional or not;
d) What kind of liabilities have been uptill now been taken care of with the help of money received as a going concern; and
e) Have the persons making fresh bookings been made aware that the respondent is under control of the Interim Resolution Professional and the matter in that behalf is engaging the attention of the authorities under the Insolvency and Bankruptcy Code.
Let affidavits to the aforesaid effect be filed by 16.01.2020. Learned counsel for the respondent undertakes to serve a copy of this order upon Mr. Jitesh Gupta, Interim Resolution Professional.
List the matter for further consideration on 17.01.2020.
(MUKESH NASA) (SUMAN JAIN)
COURT MASTER BRANCH OFFICER