Complaint No. CC006000000396802


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BEFORE THE MAHARASHTRA REAL ESTATE REGULATORY AUTHORITY
MUMBAI

Complaint No. CC006000000396802

Sanjaykumar Ramshiromani Yadav


... Complainant

Versus

M/s. Neptune Developers Limited


... Respondent

MahaRERA Project Registration No. P51700016920


Coram: Shri. Mahesh Pathak, Hon’ble Member – I/ MahaRERA

Ld. Adv. Mahendra Sonawane appeared for the complainant.
None appeared for the respondent.


INTERIM ORDER


(Friday, 16th February 2024)

(Through Video Conferencing)


1. The complainant above named has filed this online complaint before the
MahaRERA on 30-07-2022 seeking directions from MahaRERA to the
respondents to refund the entire consideration paid by him along with interest
and compensation as prescribed under the provisions of the Real Estate
(Regulation & Development) Act, 2016 (hereinafter referred to as ‘RERA’) in
respect of the booking of a flat bearing no. 702, Building, “D” in the
respondent’s registered project known as “Ramrajya - Neptune Jal Tarang D”
bearing
MahaRERA project registration No. P51700016920
located at Ambivali
West, Kalyan, Dist. Thane.

2. This complaint was heard by the MahaRERA on 16-10-2023 as per the Standard
Operating Procedure dated 12-06-2020 issued by MahaRERA for hearing of
complaints through Video Conferencing. Both the parties have been issued


Complaint No. CC006000000396802


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prior intimation of this hearing and they were also informed to file their
written submissions if any. Accordingly, the complainant appeared and made
his submissions. However, despite the notice of hearing, the respondent
remained absent. The MahaRERA heard the arguments of the complainant and
also pursued the available records.

3. After hearing the arguments of the complainant, the following Roznama was
recorded in this complaint on 16-10-2023:-
““First Hearing Matter” The complainant is present. The respondent is
absent. The complainant has mentioned that certain proceedings of the
NCLT have been initiated against the respondent - developer, IRP has been
appointed and orders have also been issued on 23-11-2022 in the said
proceeding. The copy of the order has been uploaded by the complainant in
the complaint. In view of the above, this matter is reserved for orders
considering the said NCLT proceedings. Future course of action in the
matter would be decided once such an order is issued.”

4. In the present case, the complainant by filing this complaint has approached
the MahaRERA mainly seeking refund of the entire money paid by him along
with interest on account of delay under section 18 of the RERA.

5. However, as stated hereinabove, during the course of hearing held on 16-10-
2023, the complainant has informed the MahaRERA that NCLT proceeding has
been initiated against the respondent promoter under the Insolvency &
Bankruptcy (Application to Adjudicating Authority) Rules, 2016. Hence, the
MahaRERA has perused the available record.

6. On bare perusal of the website of the Insolvency and Bankruptcy Board of
India , the MahaRERA has noticed that on 16-07-2021, the Hon’ble National


Complaint No. CC006000000396802


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Company Law Tribunal Mumbai (NCLT) has passed an order in C.P. No.
3794/IBC/MB/2019 filed by Central Bank of India, i.e., the Financial Creditor
therein against the respondent herein, thereby admitting the respondent
herein into Corporate Insolvency Resolution Process (CIRP) in accordance
with the provisions of the Insolvency and Bankruptcy Code, 2016.

7. Thereafter, the respondent has challenged the said order dated 16-07-2021
before the Hon’ble National Company Law Appellate Tribunal, New Delhi
(NCLAT) in Company Appeal (AT) (Ins) No. 624 of 2021 . However, vide an
order dated 10-06-2022 passed by the Hon’ble NCLAT, the said appeal was
dismissed and the order dated 16-07-2021 passed by the NCLT was upheld.

8. Being aggrieved by the aforesaid order dated 10-06-2022 passed by the Hon’ble
NCLAT, the respondent herein has filed a Writ Petition (C) No. 467/2022
before the Hon’ble Supreme Court of India. In the said petition , the Hon’ble
Supreme Court of India was pleased to pass an order on 04-07-2022 and the
same reads as under:-
“In the meanwhile, Petitioner shall not transfer, alienate, encumber or
dispose of any of his assets or his legal rights or beneficial interest therein
and the Resolution Professional shall not proceed with filing of the report.”

9. The aforesaid Writ Petition is still pending before the Hon’ble Supreme Court
of India. Moreover, the order dated 16-07-2021 passed by the NCLT in C.P. No.
3794/IBC/MB/2019 has not yet been set aside.

10. In view thereof, as recorded in the order dated 16-07-2021 passed by the NCLT,
Section 14 of the Code, mandating a moratorium on the institution and
continuation of legal proceedings against a Corporate Debtor in respect of


Complaint No. CC006000000396802


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which an order of admission into CIRP has been passed by the Adjudicating
Authority; applies to the respondent herein.

11. Hence institution of suits or continuation of pending suits or proceedings
against the respondent including execution of any

JUDGMENT

, decree or order
in any court of law, tribunal, arbitration panel or other authority is prohibited.

12. In view of the above, the MahaRERA cannot proceed to decide this complaint
against the respondent at this stage and hence the present complaint is
adjourned sine die. However, liberty is granted to the complainant to approach
MahaRERA after final disposal of the said insolvency proceeding pending
against the respondent if need be.


(Mahesh Pathak)
Member – 1/MahaRERA