This case involves an application (IA(IBC) 265/2023) filed in an ongoing corporate insolvency resolution process (CIRP) against Sainath Estates Pvt Ltd, the Corporate Debtor. The applicant, the liquidator, seeks directions from the NCLT to compel Bhagyanagar Hotels Pvt. Ltd. (the Respondent) to vacate and handover possession of a property (house no. 1-8-322 to 335, near American Consulate, Begumpet, Secunderabad, admeasuring 15092 sq. yards) belonging to the Corporate Debtor. The liquidator argues that the lease deed between the Corporate Debtor and the Respondent has expired, and the Respondent is illegally withholding possession and failing to pay arrears of rent. The Respondent contends that they have been in possession for 30 years, have made significant
…The Corporate Debtor, Sainath Estates Pvt Ltd, is undergoing liquidation. The Liquidator, Mr. Krishna Mohan Gollamudi, filed an application (IA(IBC) 265/2023) seeking directions to compel Bhagyanagar Hotels Pvt. Ltd. (Respondent) to vacate and handover possession of property bearing house no. 1-8-322 to 335, near American Consulate, Begumpet, Secunderabad, admeasuring 15092 sq. yards. The Liquidator contends that the lease deed between the Corporate Debtor and the Respondent expired on 2022-09-30, and the Respondent is illegally withholding possession and failing to pay arrears of rent. The Respondent claims to have been in possession for 30 years, having invested in constructing buildings on the leased land, and that a Memorandum of Understanding (MoU) was executed in
…Sign in to view the parties.
Lease deed executed…
Liquidation order…
This case involves an application (IA(IBC) 265/2023) filed in an ongoing corporate insolvency resolution process (CIRP) against Sainath Estates Pvt Ltd, the Corporate Debtor. The applicant, the liquidator, seeks directions from the NCLT to compel Bhagyanagar Hotels Pvt. Ltd. (the Respondent) to vacate and handover possession of a property (house no. 1-8-322 to 335, near American Consulate, Begumpet, Secunderabad, admeasuring 15092 sq. yards) belonging to the Corporate Debtor. The liquidator argues that the lease deed between the Corporate Debtor and the Respondent has expired, and the Respondent is illegally withholding possession and failing to pay arrears of rent. The Respondent contends that they have been in possession for 30 years, have made significant
…The Corporate Debtor, Sainath Estates Pvt Ltd, is undergoing liquidation. The Liquidator, Mr. Krishna Mohan Gollamudi, filed an application (IA(IBC) 265/2023) seeking directions to compel Bhagyanagar Hotels Pvt. Ltd. (Respondent) to vacate and handover possession of property bearing house no. 1-8-322 to 335, near American Consulate, Begumpet, Secunderabad, admeasuring 15092 sq. yards. The Liquidator contends that the lease deed between the Corporate Debtor and the Respondent expired on 2022-09-30, and the Respondent is illegally withholding possession and failing to pay arrears of rent. The Respondent claims to have been in possession for 30 years, having invested in constructing buildings on the leased land, and that a Memorandum of Understanding (MoU) was executed in
…Lease deed executed…
Liquidation order…