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Tribunals and CommissionsDivision Bench(2021) 11 NCLT CK 0071

Reliance Commercial Finance Limited vs Vista Mining Private Limited

National Company Law Tribunal · Decided on 22 November 2021

HON’BLE JUDGES
Rohit Kapoor, Member (J) · Harish Chander Suri, Member (T)
CASE NUMBER
C.P. (IB) - 146 Of 2019
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Judgment

7 paragraphs · 321 words
1.

Ld. Counsel for the applicant present.

2.

IA(IBC)/925(KB)2021

(a)  This is an application filed by the Chairman of the Monitoring Committee of Vista Mining  Private   Limited (Corporate   Debtor)   seeking   directions   against   Mangalam   Cement Limited,  a  B.  K.  Birla Group company, who  had engaged  the Corporate  Debtor as a mining   development  operator.  The  Corporate   Debtor  had   lent  two   heavy  mining machineries to the respondent, Mangalam Cement Limited, on rental basis.

(b)  Ld. Counsel for the Chairman of the Monitoring Committee subsequent to the order dated 13/07/2021, visited the site to take possession and to hand over the machineries, as mentioned in paragraph 4 of the application, to the successful Resolution Applicant. However, the respondent did not allow the Chairman of the Monitoring Committee to enter the site to enable him to examine the machineries and take possession thereof.

(c)   In view of the submissions made by the Ld. Counsel for the Chairman of the Monitoring Committee,  we  are  convinced  to  pass  order  directing  the  respondent,  Mangalam Cement Limited, to hand over those two machineries mentioned above which belong to the Corporate Debtor, to the Chairman of the Monitoring Committee within fifteen days from today. The Chairman of the Monitoring Committee shall immediately contact the respondent and hand over a copy of this order to the respondent for compliance by fixing a date, when the Chairman of the Monitoring Committee shall visit the site to take possession of the machineries.

(d)  A copy of this order be given to the Chairman of the Monitoring Committee for onward transmission   to   the   respondent   and  the   Superintendent  of   Police   within   whose jurisdiction  the   mining  site  is  situated  by  speed  post  and  e-mail.  The  concerned Superintendent  of  Police  shall  provide  all  necessary  help  to  the  Chairman  of  the Monitoring Committee in taking possession of the aforesaid two machineries in case there is any disobedience of this order by the respondent.

3.

List this matter on 12/01/2022.