UnUregistered Profit-Sharing Agreements Cannot Confer Occupancy Rights During CIRP: NCLAT

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...