The National Company Law Appellate Tribunal bench of Justice Ashok Bhushan (Chairperson) and Barun Mitra (Technical Member) has held that the Corporate Debtor, Eurolife Healthcare Pvt. Ltd., retained absolute rights over the disputed 13,000 sq. ft. Cephalosporin Facility as part of the liquidation estate.
Brief Facts
Maharashtra Industrial Development Corporation (MIDC) executed a 95-year lease deed on 08.09.1998 for Plot No. B-15/2 in Waluj Industrial Area, Aurangabad, in favour of Wockhardt Life Sciences Limited (Appellant No. 2). The lease was registered on 08.10.1998.
In 2002, Wockhardt Life Sciences Limited transferred its business to Baxter (India) Pvt. Ltd. via a Business Transfer Agreement (06.03.2002) and a…
