Complaint No. CC12400465


━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Page 1 of 4
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━

BEFORE THE MAHARASHTRA REAL ESTATE REGULATORY AUTHORITY,
MUMBAI

Complaint No. CC12400465


Vikram Ghanshamdas Malkani


...Complainant

Versus

1. Neptune Developers Limited

2. Nayan Bheda


... Respondents

Complaint No. CC12400467


Vikram Ghanshamdas Malkani


...Complainant

Versus

1. Neptune Developers Limited

2. Nayan Bheda


... Respondents


MahaRERA Project Registration No. P51700016878


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

Both the parties are absent.


INTERIM ORDER


(Monday, 28th October 2024)

(Through Video Conferencing)


1. The complainants above named have filed these 2 separate complaints before the
MahaRERA on 19-10-2024 seeking directions from MahaRERA to the respondent
to refund the entire amount paid by them along with interest and compensation
as prescribed under the provisions of section 18 of the Real Estate (Regulation &
Development) Act, 2016 (hereinafter referred to as ‘RERA’) in respect of the
booking of flats bearing No. 1006 in Wing B (in the complaint at Sr. No. 1) and 502
in Wing B (in the complaint at Sr. No. 2) in the respondents’ registered project


Complaint No. CC12400465


━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Page 2 of 4
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━

known as “Ramrajya - Neptune Udaan B” bearing MahaRERA registration No.
P51700016878 located at Ambivali West, Village-Kalyan-Dombivali (M Corp.),
District - Thane.

2. These complaints were clubbed together and the same were heard by the
MahaRERA today 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 prior intimation of this hearing and they were
also informed to file their written submissions if any. However, despite the notice
of hearing, both the parties remained absent.

3. In the present case, the complainants by filing these 2 separate complaints have
approached the MahaRERA mainly seeking refund of the entire money paid by
them along with interest on account of delay under section 18 of the RERA

4. However, during the course of hearing, the MahaRERA has noticed 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.

5. 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 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.

6. Thereafter, the respondent has challenged the said order dated 16-07-2021 before


Complaint No. CC12400465


━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Page 3 of 4
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━

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.

7. 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.”

8. 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.

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

10. 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.

11. In view of the above, the MahaRERA cannot proceed to decide these complaints
against the respondent at this stage and hence the present complaints are


Complaint No. CC12400465


━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Page 4 of 4
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━

adjourned sine die. However, liberty is granted to the complainants to approach
MahaRERA after final disposal of the said insolvency proceeding pending against
the respondent if need be.


(Mahesh Pathak)
Member – 1/MahaRERA