Authority: National Company Law Appellate Tribunal, Chennai Bench (Justice N. Seshasayee, Member (Judicial) and Jatindranath Swain, Member (Technical))
Order Date: 07 October 2026
Case Overview
The appeal was filed by Sri Manish Kapoor (Appellant) against Mr. Surender Devasani (Liquidator of Vikram Structures Private Limited) as Respondent No. 1 and Vikram Structures Private Limited (represented by its Promoter Mr. Vikram Prabhakar) as Respondent No. 2. The dispute concerned the appellant's grievance of not being given possession of a commercial space he purchased from the corporate debtor (Vikram Structures Private Limited) in the year 2019. The corporate debtor, through its auction purchaser, filed an affidavit stating its readiness to deliver possession of the property to the appellant. The tribunal noted that this development addressed the appellant's primary grievance, leaving little substance in the appeal. The appellant's counsel requested time to inspect the property before taking delivery, but the tribunal clarified that it does not function as an execution court for enforcing civil court decrees.
Final Outcome
The appeal was disposed of with no costs awarded. The tribunal granted explicit liberty to the appellant to revive the appeal if the property delivered by the auction purchaser does not match the property he originally purchased under the sale deed. The order effectively closes the current proceedings while preserving the appellant's right to seek recourse if the promised possession is not fulfilled or if the property does not correspond to what was purchased.
Topics: NCLAT Order, Property Possession Dispute, Corporate Insolvency