04-Dec-2023 |
Sh. Ashish Kush, Planning Executive and Ms.
Asha, Chartered Accountant briefed about the facts of the case.
Sh. Kishor Kumar [AR) and Sh.
Janardhan (AR) are present on
behalf of the promoter.
It was
briefed by the AR of the promoter applicant that the original promoter was M/s
Sare Gurugram Pvt. Ltd. (formerly known as Ramprastha Sare Realty Pvt. Ltd.)
however, the licenses are in the name of M/s S.A. Infracon and others. M/s Sare
Gurugram Pvt. Ltd. have approached DTCP for transfer of license in their own
name. In principle approval was issued by DTCP in favour of M/s Sare Gurugram
Pvt. Ltd. vide Memo No. LC-163 5-ll-IE(VAJ-2013/36807 and 36804 both dated 17.04.2013.
In terms of this in principle approval the title of land has been transferred
from M/s S.A. Infracon and others to M/s Sare Gurugram Pvt. Ltd. and submitted
to the department. However, in the meantime the company went to the NCLT.
The
Hon’ble NCLT admitted the case on 09.03.2021 by petition No. IB300(PB)2020 and
appointed Mr. Ajit Gyan Chand Jain as IRP. Further, In the 7th CoC Meeting held
on 17.12.2021, it was informed by RP to the members of CoC that Resolution
Plans were received from 6 PRAs. The Coc, in its commercial wisdom after
examining the feasibility and viability of the 6 Resolution Plans, approved the
Resolution Plans of “ Consortium of KGK Realty (India) Private Limited (
“Successful Resolution Applicant” (SRA)) with 100% votes its favour in terms of section30(4) of the
Code. On 24.04.2023, Hon’ble NCLT also approved the plan finally.
In terms of the plan the liability of financial
creditors is to be discharged in 48 months from the date of approval of the
plan. Also, the home buyers flat need to be delivered within 36 months of the
approval. As on date M/s Sare Gurugram Pvt. Ltd. (formerly known as Ramprastha
Sare Realty Pvt. Ltd.) does not have Board of Directors and the M/s K.G.K.
-Dhoot Consortium will induct new directors periodically as per instructions of
NC LT order dated 23.04.2O23.
The promoter has filed a case in the Hon’ble High
Court and vide order dated 31.10.2023 in CWP no. 24511-2023, it has been
directed to issue appropriate orders, as expeditiously as possible, preferably
within six weeks from the date of order. The promoter stated that the applied
area for registration was inadvertently left out at the time of registration in
the Interim RERA, Panchkula. Now, the promoter has applied for the registration
of the left out area. The Authority has levied the late fee of Rs 65,95,310/-
as the project is ongoing and request for waiver of late fees is not considered.
Now, the promoter has submitted the late fee and
stated that they had already obtained the Occupation certificate vide memo no.
ZP-562-II/PA(DK)/2023/12361 dated 28.04.2023 for the applied area and requested
the Authority to grant the registration certificate which will enable the
promoter to hand over the possession to the existing allottees and availability
of loan for completion of the project for the existing allottees and execution
of conveyance deed in their favour.
The OC for the applied area has been already
obtained and the late fee also deposited. The matter is unique in the way that
the applicant/ promoter has been appointed as a result of resolution
proceedings in the Hon’ble NCLT and has been assigned the responsibility to
deliver the units to existing allottees. This being a stressed project and now
revived by Hon’ble NCLT under IBC Act, 2016 in the interest of allottees, the
authority decides to grant the registration certificate only to the extent of
facilitating the handing over of allotted units and execution of conveyance
deeds of existing allottees. The rectification of deficiencies and submission
of the COD/Transfer of license in the Authority shall be done before any
further sale in the above said project. An undertaking to this effect shall be
submitted that no further sale/booking of any unsold unit should be made prior
to seeking of COD/Transfer of license from DTCP and its submission in the
Authority. |
APPROVED AND READY FOR CERTIFICATE ISSUING PROCESS |
View Order |
20-Nov-2023 |
Sh. Ashish Kush, Planning Executive and Ms. Asha,
Chartered Accountant briefed about the facts of the case.
Sh. Janardhan
(AR) and Sh. Kishore Kumar (AR) are
present on behalf of the promoter. The AR of the promoter states that the requisite fee
as already conveyed by the Authority will be deposited. The BIP/COD approval has
been granted ‘in-principle’ by the DGTCP and final approval of permission is
under consideration of DGTCP. The AR of the promoter requests for 90 days time
to submit the same.
Regarding the old allottees of the project, the AR
states that all the allottees whose claims had been accepted under the CIRP
shall be accommodated in the project. However, certain allottees who had not
filed their claims during the CIRP proceedings later approached NCLT. After
rejection their claim by the NCLT, they have filed appeal in the NCLAT and the
decision is pending. The claims of those allottees shall be decided as per
decision of the NCLAT. He further stated that the requisite fees as demanded by
the Authority shall be deposited within a period of one week and an undertaking
w.r.t. the compliance of the decision of NCLAT alongwith other deficiencies, if
already not cleared shall also be rectified.
The Matter to come up on 04.12.2023 for further
proceedings. |
ADJOURNMENT |
View Order |