TLH Advocates & Solicitors Secures Order For APIIC Before NCLT Ahmedabad In Dispute Over Kakinada Industrial Land
Law Firm News Correspondent
25 Feb 2026 2:47 PM IST
TLH Advocates & Solicitors represented Andhra Pradesh Industrial Infrastructure Corporation Ltd. (APIIC) before the National Company Law Tribunal, Ahmedabad Bench, in proceedings arising from the liquidation of PSL Ltd. involving approximately 32.23 acres of industrial land at Industrial Park, Peddapuram, Kakinada, Andhra Pradesh.
The dispute concerned inclusion of the subject land in the liquidation estate and issuance of a sale certificate in favour of the auction purchaser, despite APIIC's claim that the allotment had been cancelled and possession resumed prior to commencement of liquidation.
By order dated 12 February 2026, the NCLT adjudicated the applications and observed that a liquidator is empowered to sell only such assets as are vested in the liquidation estate.
The Tribunal directed rectification of the Sale Certificate to ensure that the description of the property aligns strictly with the legal extent of the rights actually held by the Corporate Debtor. The NCLT also granted the auction purchaser liberty to step into the shoes of the Corporate Debtor in pending writ proceedings before the Andhra Pradesh High Court and directed the Registry to forward the order to the Insolvency and Bankruptcy Board of India (IBBI) for regulatory review.
The order clarifies the extent of rights transferable in liquidation sales where ownership and resumption claims are disputed.
The TLH dispute resolution team was led by Palash Taing (Principal Associate), along with Mayank Kumar (Senior Associate).