Tru Prime Pvt. Ltd. Vs Navneet Gupta (NCLAT Delhi)
The National Company Law Appellate Tribunal (NCLAT), Delhi, dismissed an appeal challenging an order of the National Company Law Tribunal (NCLT), Chandigarh Bench, which had directed the appellant to vacate portions of a hotel owned by a corporate debtor undergoing Corporate Insolvency Resolution Process (CIRP). The appellant was occupying a salon on the second floor, 12–13 shops on the third floor, and five rooms on the eighth floor of the hotel. The Resolution Professional (RP) sought possession of these premises after commencement of CIRP, contending that the appellant had no legal right to continue in occupation.
The appellant relied on Profit Sharing Agreements dated 17 June 2019 and 13 March 2020, claiming rights to occupy the second and third floor premises. Regarding the rooms on the eighth floor, the appellant asserted that its personnel occupied them in lieu of dues allegedly payable by the corporate debtor for supplies of milk and milk products. The RP disputed these claims, stating that the agreements were not part of the corporate debtor’s records, were unregistered and inadequately stamped, and had surfaced only after the eviction proceedings were initiated. The RP further asserted that no profit-sharing payments were ever reflected in the corporate debtor’s books, bank statements, or records.
