Liquidator has power to evict subsidiaries occupying corporate debtor’s assets: NCLAT Delhi

Fivebro Water Services Pvt. Ltd. Vs Bijay Murmuria (NCLAT Delhi) Conclusion: Liquidator, in discharge of duties under Section 35, was entitled to take custody and control of the assets of the Corporate Debtor forming part of the liquidation estate and recover outstanding dues. Since the premises belonged to the Corporate Debtor and the Appellants had continued in possession without clearing rental and licence fee liabilities, the directions issued by the Adjudicating Authority to vacate the premises and pay arrears were justified. Held: Corporate Debtor had executed an unregistered lease deed ...