Bringing you the Best Analytical Legal News
Section 18(1)(f)(vi) IBC empowers the resolution professional to take control and custody of any asset over which the corporate debtor has ownership rights as reflected in its balance sheet, information utility, depository of securities, or any other registry recording ownership of assets, including assets subject to the determination of ownership by a court or authority.
The Court noted that the Panchayat had allowed administrative arrangements to continue for years without challenge, which militated against granting declaratory relief.
“The present being a case where the grievance sought to be raised by the petitioner is regarding alleged obstruction by his neighbour in the construction of a gate on the petitioner’s property, the same in our view would not come within the purview of provisions of the Senior Citizens Act 2007.”
“It is said that the woes for the litigants in this country start once they are able to obtain a decree in their favour and are unable to execute and reap its fruits for years together.”