Shikhar Leasing & Trading Ltd (Petitioner) filed a company petition against Vijay Suraksha Realty LLP (Respondent) for failing to make payments by 31/07/2019, alleging breaches of an agreement. The Respondent denied these claims. The parties had entered into agreements regarding the transfer of FSI rights, with the Petitioner depositing Rs. 4,22,40,000/- for a first right to acquire 66,000 sq. ft. of saleable FSI. A subsequent agreement on 19/08/2017 granted the Petitioner a first right to acquire 43,000 sq. ft. of saleable FSI, with a deposit of Rs. 4,22,40,000/-. The Respondent was to pay Rs. 17,50,00,000/- by 31/07/2019. The parties ultimately reached a settlement, documented in consent terms dated 09.12.2020, where the Respondent would either pay Rs.

Shikhar Leasing & Trading Ltd (Petitioner) filed a company petition against Vijay Suraksha Realty LLP (Respondent) for failing to make payments by 31/07/2019, alleging breaches of an agreement. The Respondent denied these claims. The parties had entered into agreements regarding the transfer of FSI rights, with the Petitioner depositing Rs. 4,22,40,000/- for a first right to acquire 66,000 sq. ft. of saleable FSI. A subsequent agreement on 19/08/2017 granted the Petitioner a first right to acquire 43,000 sq. ft. of saleable FSI, with a deposit of Rs. 4,22,40,000/-. The Respondent was to pay Rs. 17,50,00,000/- by 31/07/2019. The parties ultimately reached a settlement, documented in consent terms dated 09.12.2020, where the Respondent would either pay Rs.