The National Company Law Tribunal (NCLT)at Mumbai has held, in a case concerning Kaved Realty Private Limited, that mutation of land records giving effect to a revenue order cannot be carried out after commencement of insolvency proceedings, as such action violates the moratorium under the Insolvency Code.
A bench of Judicial Member Sushil Mahadeorao Kochey and Technical Member Prabhat Kumar, while allowing an application filed by the Resolution Professional of Kaved Realty Private Limited, observed,
“In this case CIRP commenced on 23.10.2024. The office of Respondent No.3 has made out mutation entries in the Land Revenue Records pursuant to order dated 14.10.2024 passed by Hon’ble Minister (Revenue), State of Maharashtra. The…