Case Note & Summary
The appeal was filed against an order dated 15.04.2026 by the Adjudicating Authority concerning I.A. No. 807 of 2025 in C.P. (IB) No. 223/ALD/2018. The Appellant, the Liquidator of JVL Agro Industries Limited, highlighted that the Corporate Debtor had entered liquidation on 19.08.2020, with most assets realized except for a parcel of land in Assam. Initially recorded as 10 bighas, further verification revealed the land's actual extent to be approximately 25 bighas. Despite attempts to sell the land through e-auction, no buyers participated due to the lack of demarcation, which created uncertainty regarding the land's boundaries. The Appellant sought assistance from the Circle Officer for demarcation but faced delays, leading to the filing of I.A. No. 807 of 2025. The application was adjourned multiple times, prompting the Appellant to request urgent listing through I.A. No. 241 of 2026. Although the latter was disposed of with a direction for higher listing, the matter was again adjourned. The Appellant expressed concern over the delays affecting the liquidation process. The Tribunal, without commenting on the merits, requested the Adjudicating Authority to expedite the hearing of I.A. No. 807 of 2025 and resolve it within two months.
Headnote
A) Company Law - Liquidation Process - Demarcation of Land - Companies Act, 2013 - The Appellant, as Liquidator, sought directions for demarcation of land to facilitate asset realization during liquidation. The Tribunal directed the Adjudicating Authority to expedite the hearing of the application and dispose of it within two months, emphasizing the necessity of demarcation for the liquidation process (Paras 2-4).
Issue of Consideration
Whether the Adjudicating Authority should expedite the hearing of the application for land demarcation in the liquidation process.
Final Decision
The Tribunal directed the Adjudicating Authority to take up I.A. No. 807 of 2025 and dispose of it expeditiously, preferably within two months from the receipt of the order.
Law Points
- Liquidation process
- Demarcation of land
- Adjudicating Authority's directions
