The case involves an application under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, read with Section 25 of the same code and Regulation 30 of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016. The application was filed by Rajiv Kumar Agarwal, the Resolution Professional of Ispat Profiles India Limited, seeking directions to the respondent, Bharat Sanchar Nigam Limited (BSNL), to deliver vacant possession of a property owned by Ispat Profiles India Limited. The property, located in Koregaon, Pune, was leased to BSNL, and the applicant sought the court's intervention to facilitate the Corporate Insolvency Resolution Process (CIRP).
Ispat Profiles India Limited is undergoing Corporate Insolvency Resolution Process (CIRP). Rajiv Kumar Agarwal is the Resolution Professional (RP). Ispat Profiles India Limited owns a property in Koregaon, Pune, consisting of land and a single-story building. This property was leased to Bharat Sanchar Nigam Limited (BSNL). The lease agreement expired in 2012, according to the RP. The RP issued notices to BSNL to vacate the property. BSNL claims the lease is still valid, citing continuous rent payments and an extension clause. BSNL has been operating a telephone exchange on the property since 1989. The last lease agreement was executed in 2008 and was valid until 31.12.2012. The lessor demanded an increase in rates, and the lessee offered an enhanced rate of Rs. 13225/-
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Rajiv Kumar Agarwal was appointed as the…
The Lessor issued a legal notice for peaceful…
The case involves an application under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, read with Section 25 of the same code and Regulation 30 of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016. The application was filed by Rajiv Kumar Agarwal, the Resolution Professional of Ispat Profiles India Limited, seeking directions to the respondent, Bharat Sanchar Nigam Limited (BSNL), to deliver vacant possession of a property owned by Ispat Profiles India Limited. The property, located in Koregaon, Pune, was leased to BSNL, and the applicant sought the court's intervention to facilitate the Corporate Insolvency Resolution Process (CIRP).
Ispat Profiles India Limited is undergoing Corporate Insolvency Resolution Process (CIRP). Rajiv Kumar Agarwal is the Resolution Professional (RP). Ispat Profiles India Limited owns a property in Koregaon, Pune, consisting of land and a single-story building. This property was leased to Bharat Sanchar Nigam Limited (BSNL). The lease agreement expired in 2012, according to the RP. The RP issued notices to BSNL to vacate the property. BSNL claims the lease is still valid, citing continuous rent payments and an extension clause. BSNL has been operating a telephone exchange on the property since 1989. The last lease agreement was executed in 2008 and was valid until 31.12.2012. The lessor demanded an increase in rates, and the lessee offered an enhanced rate of Rs. 13225/-
…Rajiv Kumar Agarwal was appointed as the…
The Lessor issued a legal notice for peaceful…