The case involves an application filed by the Liquidator of Butta Infrastructure Private Limited (Corporate Debtor) seeking direction to Meridian Educational Society (Respondent) to pay outstanding lease rental dues amounting to Rs. 281,67,10,552/-. The Corporate Debtor was admitted into CIRP on 01.03.2021, following a petition filed by LIC Housing Finance Limited under Section 7 of the Insolvency and Bankruptcy Code, 2016. The Liquidator contends that the Respondent is in possession of properties belonging to the Corporate Debtor, located at Banjara Hills & Madhapur, based on registered lease deeds dated 23.02.2017, which were later cancelled on 06.09.2019. Despite the cancellation, the Respondent continues to occupy the properties and has defaulted on rent payments.
Butta Infrastructure Private Limited (Corporate Debtor) underwent Corporate Insolvency Resolution Process (CIRP) initiated by LIC Housing Finance Limited due to loan default. The CIRP led to liquidation, and a Liquidator was appointed. The Corporate Debtor had leased properties in Banjara Hills and Madhapur to Meridian Educational Society (Respondent). Lease deeds were executed on 23.02.2017, but later cancelled on 06.09.2019. Despite cancellation, the Respondent continued possession. The Liquidator claimed outstanding lease rentals of Rs. 281,67,10,552/-. The Respondent argued earlier lease deeds from 1999 were valid, and they paid rent to original lessors. The Respondent also claimed a waiver of rent until 31.03.2021. The Liquidator disputed the waiver and alleged
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Lease deeds executed between Butta…
Lease deeds dated…
The case involves an application filed by the Liquidator of Butta Infrastructure Private Limited (Corporate Debtor) seeking direction to Meridian Educational Society (Respondent) to pay outstanding lease rental dues amounting to Rs. 281,67,10,552/-. The Corporate Debtor was admitted into CIRP on 01.03.2021, following a petition filed by LIC Housing Finance Limited under Section 7 of the Insolvency and Bankruptcy Code, 2016. The Liquidator contends that the Respondent is in possession of properties belonging to the Corporate Debtor, located at Banjara Hills & Madhapur, based on registered lease deeds dated 23.02.2017, which were later cancelled on 06.09.2019. Despite the cancellation, the Respondent continues to occupy the properties and has defaulted on rent payments.
Butta Infrastructure Private Limited (Corporate Debtor) underwent Corporate Insolvency Resolution Process (CIRP) initiated by LIC Housing Finance Limited due to loan default. The CIRP led to liquidation, and a Liquidator was appointed. The Corporate Debtor had leased properties in Banjara Hills and Madhapur to Meridian Educational Society (Respondent). Lease deeds were executed on 23.02.2017, but later cancelled on 06.09.2019. Despite cancellation, the Respondent continued possession. The Liquidator claimed outstanding lease rentals of Rs. 281,67,10,552/-. The Respondent argued earlier lease deeds from 1999 were valid, and they paid rent to original lessors. The Respondent also claimed a waiver of rent until 31.03.2021. The Liquidator disputed the waiver and alleged
…Lease deeds executed between Butta…
Lease deeds dated…