The applicant, Corob India Pvt. Ltd., filed an application seeking various reliefs, including the return of a bank guarantee and a refund of a security deposit, or alternatively, to be admitted as a financial creditor. This arose from a Lease Deed executed with the Corporate Debtor, Renaissance Indus Infra Private Limited, for which the Corporate Debtor failed to hand over possession of the leased premises.
The Applicant, Corob India Pvt. Ltd., and the Corporate Debtor, Renaissance Indus Infra Private Limited, executed a Lease Deed on December 12, 2018, for a period of 10 years, commencing October 12, 2019. The leased premises were Unit Nos. 001 to 010 of Pre-Engineered Building no. WA-X in the Renaissance Industrial Smart City at Village Vashere, Taluka Bhiwandi, Thane District. The Lease Agreement stipulated a security deposit split into two parts: Rs. 91,34,304/- as a deposit (equivalent to 4 months' rent) and a conditional Bank Guarantee for Rs. 45,67,152/- (equivalent to 2 months' rent). The Lease Deed specified that the Bank Guarantee or forfeiture of the Deposit Amount could only be invoked if the Applicant defaulted in paying monthly lease rent or caused damage to
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Applicant and Corporate…
Corporate Debtor failed…
The applicant, Corob India Pvt. Ltd., filed an application seeking various reliefs, including the return of a bank guarantee and a refund of a security deposit, or alternatively, to be admitted as a financial creditor. This arose from a Lease Deed executed with the Corporate Debtor, Renaissance Indus Infra Private Limited, for which the Corporate Debtor failed to hand over possession of the leased premises.
The Applicant, Corob India Pvt. Ltd., and the Corporate Debtor, Renaissance Indus Infra Private Limited, executed a Lease Deed on December 12, 2018, for a period of 10 years, commencing October 12, 2019. The leased premises were Unit Nos. 001 to 010 of Pre-Engineered Building no. WA-X in the Renaissance Industrial Smart City at Village Vashere, Taluka Bhiwandi, Thane District. The Lease Agreement stipulated a security deposit split into two parts: Rs. 91,34,304/- as a deposit (equivalent to 4 months' rent) and a conditional Bank Guarantee for Rs. 45,67,152/- (equivalent to 2 months' rent). The Lease Deed specified that the Bank Guarantee or forfeiture of the Deposit Amount could only be invoked if the Applicant defaulted in paying monthly lease rent or caused damage to
…Applicant and Corporate…
Corporate Debtor failed…