Authority: National Company Law Tribunal, Division Bench (Court–I), Chennai
Order Date: 06 July 2026
Case Overview
The application IA(I.B.C)/1101(CHE)2026 was filed by Veesons Energy Systems Pvt Ltd (the auction purchaser) in the main insolvency petition C.P. (IB)/510(CHE)2017. The application seeks specific directions against Ozone Projects Private Limited (Respondent No. 2) and the jurisdictional Sub-Registrar (Respondent No. 3) regarding the execution and registration of conveyance documents for Flat No. C-303, Tower C, in the Metrozone Project located at Jawaharlal Nehru Salai, Koyambedu Village, Chennai-600040. The property was apparently acquired by Veesons through an auction process during the liquidation of the corporate debtor.
The principal reliefs sought include: (a) directing Ozone Projects to execute and register all necessary documents including UDS, Apartment Deed, Sale Deed, and Conveyance Deed; (b) directing Ozone Projects to hand over all original records, approvals, sanctioned plans, completion certificates, occupancy certificates, association records, and issue a formal possession letter; (c) directing the Sub-Registrar to receive and register the documents upon payment of applicable stamp duty and charges; (d) authorizing the Liquidator to execute the documents if Ozone Projects fails to do so; and (e) directing all revenue authorities to give effect to the NCLT's order notwithstanding any pending proceedings or objections.
Final Outcome
The NCLT bench, comprising Member (Judicial) Sanjiv Jain and Member (Technical) Venkataraman Subramaniam, directed the applicant (Veesons Energy Systems) to serve copies of the application on all respondents. The matter was listed for appearance, reply, and further hearing on 14 July 2026. No final decision on the merits of the application was made in this order.
Topics: Insolvency Proceedings, Property Conveyance, NCLT Directions