Archive · 6 Nov 2025
NCLAT Rejects Reliance Realty's Appeal to Recover Assets from Independent TV
A company called Independent TV, which used to be in the TV business, is being sold off to pay its debts.
Independent TV had rented space from another company, Reliance Realty.
Reliance Realty wanted to get paid rent and keep some of Independent TV's stuff before it was sold.
However, a special court called NCLAT said Reliance Realty waited too long to ask for these things and didn't object when the sale process started.
The court also said that Reliance Realty couldn't stop the people selling Independent TV's items from taking them away from the rented space.
This decision means the sale of Independent TV can happen quickly to settle its debts, and Reliance Realty's request was denied.
NCLAT dismissed Reliance Realty's appeal to recover rental dues and assets from Independent TV.
The appellate tribunal upheld an NCLT order for the liquidation of Independent TV to proceed in a time-bound manner.
NCLAT ruled that Reliance Realty had not raised ownership issues for assets on leased premises and had not objected to the liquidator's possession.
The decision allows the liquidator to remove moveable assets from the leased premises and prevents Reliance Realty from obstructing this process.
Independent TV, formerly Reliance Big TV, had leased space from Reliance Realty at DKAC to run its DTH business.
- Who
- The National Company Law Appellate Tribunal (NCLAT), Reliance Realty, and Independent TV.
- What
- NCLAT dismissed Reliance Realty's appeal to recover rentals and assets from Independent TV, upholding an NCLT order that allows the liquidation of Independent TV to proceed without disruption.
- When
- The NCLAT ruling occurred recently, upholding an earlier NCLT order.
- Where
- The case involves leased premises at DKAC (Dhirubhai Ambani Knowledge City).
- Why
- NCLAT found that Reliance Realty had not presented cogent reasons for its claims and had not objected to the liquidator's possession of assets on the leased premises, prioritizing the timely liquidation of Independent TV.
Reliance Realty
Independent TV Liquidator
Claim over Rentals and Assets
Reliance Realty
Reliance Realty sought to recover rental dues and assets from Independent TV, which was using its leased premises.
Independent TV Liquidator
The liquidator was proceeding with the liquidation of Independent TV and argued that the process should not be disrupted by Reliance Realty's claims. The NCLAT agreed that the liquidator should be allowed to remove assets.
Timing of Claims and Ownership
Reliance Realty
Reliance Realty appealed the NCLT's decision to proceed with liquidation without addressing their claims for rent and assets.
Independent TV Liquidator
The NCLAT noted that Reliance Realty had not raised issues of asset ownership during the liquidation process and had not previously objected to the liquidator's possession of assets on the leased premises.
- Appellate Tribunal
- National Company Law Appellate Tribunal (NCLAT)
- Lower Tribunal
- Mumbai bench of National Company Law Tribunal (NCLT)
- Appellant
- Reliance Realty
- Corporate Debtor
- Independent TV (formerly Reliance Big TV)
- Lessor of Premises
- Reliance Realty
- Leased Premises
- Part of DKAC (Dhirubhai Ambani Knowledge City)
- Asset Location
- Leased premises at DKAC
