Earth Infrastructures Limited vs. Greater Noida Industrial Development Authority (Gnida)

ITEM NO.17 COURT NO.3 SECTION XVII

S U P R E M E C O U R T O F I N D I A RECORD OF PROCEEDINGS

CIVIL APPEAL Diary No. 18924/2023

(Arising out of impugned final judgment and order dated 30-01-2023 in CAAT(I) No. 629/2022 passed by the National Company Law Appellate Tribunal)

UNIFIC TECHONE PATRONS INDEPENDENT ASSOCIATION (UTOPIA) & ANR. Petitioner(s)

VERSUS

GREATER NOIDA INDUSTRIAL DEVELOPMENT AUTHORITY (GNIDA) & ORS. Respondent(s)

(IA No.114056/2023-CONDONATION OF DELAY IN FILING and IA No.114057/2023-EXEMPTION FROM FILING C/C OF THE IMPUGNED JUDGMENT and IA No.114058/2023-EXEMPTION FROM FILING O.T.)

Date : 17-07-2023 This matter was called on for hearing today.

CORAM :

HON'BLE MR. JUSTICE SANJIV KHANNA HON'BLE MS. JUSTICE BELA M. TRIVEDI

For Petitioner(s)

• Mr. Shashank Raghav, Adv.
• Mr. Devendra Kumar Shukla, AOR
• Ms. Shubhangini Yadav, Adv.
• Mr. Bhupendra Pratap Singh, Adv.
• Mr. Abhishek Kumar Suman, Adv.

For Respondent(s)

Mr. Anshuman Sharma, Adv. Mr. Sarvesh Singh Baghel, AOR

Mr. Birendra Kumar Mishra, AOR Mr. Manish Kumar Srivastava, Adv. Mr. Rahul Gupta, Adv. Mr. Moksh Arora, Adv.

• Ms. Poonam Atey, Adv.
• Mr. Hemendra Kumar, Adv.
• Mr. Sirajuddin, Adv.

UPON hearing the counsel the Court made the following O R D E R

Delay condoned.

Issue notice and tag with Civil Appeal no. 1526/2023 and other connected matters.

Service is waived and notice is accepted by Mr. Manish Kumar Srivastava, learned counsel appearing on advance notice for respondent no. 1 – Greater Noida Industrial Development Authority (for short, 'Authority'). Hence, notice need not be served on respondent no. 1.

The unrepresented respondents will be served on steps being taken by all modes, including dasti**.**

We would like respondent no. 1 – Authority to file an affidavit stating whether they are ready and willing to take up the project and complete the construction and give apartments/flats to the flat buyers on the terms agreed between the flat buyers and the builder. In case they are not ready to do so, they shall indicate how they intend to protect the interests of the flat buyers; rules and regulations framed by them, or policy decision in case the builder defaults or goes into liquidation. These details/ particulars/documents will be placed on record, along with an affidavit which will be filed within a period of 4 weeks.

Another question which may arise for consideration is whether the Authority which has given the land on lease, has security interest in terms of Section 3(31) of the Insolvency and Bankruptcy Code, 2016 and, therefore, can be treated as a financial creditor.

Re-list after 6 weeks.

(DEEPAK GUGLANI) (R.S. NARAYANAN) AR-cum-PS ASSISTANT REGISTRAR