Aegis Resolution Services Private Limited, the Resolution Professional (RP) of Ojas Tradelease and Mall Management Private Limited (Corporate Debtor), filed an application (IA 5114/2025) under Section 66 of the Insolvency and Bankruptcy Code, 2016, seeking to declare a lease deed between the Corporate Debtor and Praxis Home Retail Limited (Respondent No. 1) as fraudulent and detrimental to the interests of the Corporate Debtor and its creditors.
A lease deed was executed on March 23, 2022, between Ojas Tradelease and Mall Management Private Limited (Corporate Debtor) and Praxis Home Retail Limited (Respondent No. 1) for an area of 44,500 sq. ft. in The Acropolis Mall, Ahmedabad, for a period of 21 years.
The monthly rent agreed upon was INR 2,00,000 or 4% of the monthly net sales, whichever is higher.
The Corporate Insolvency Resolution Process (CIRP) of Ojas Tradelease and Mall Management Private Limited was initiated on June 22, 2022, based on an application filed by Central Bank of India.
Avil Menezes was appointed as the Interim Resolution Professional (IRP) and later confirmed as Resolution Professional (RP).
…Sign in to view the parties.
The Corporate Debtor…
Corporate Insolvency Resolution Process…
Aegis Resolution Services Private Limited, the Resolution Professional (RP) of Ojas Tradelease and Mall Management Private Limited (Corporate Debtor), filed an application (IA 5114/2025) under Section 66 of the Insolvency and Bankruptcy Code, 2016, seeking to declare a lease deed between the Corporate Debtor and Praxis Home Retail Limited (Respondent No. 1) as fraudulent and detrimental to the interests of the Corporate Debtor and its creditors.
A lease deed was executed on March 23, 2022, between Ojas Tradelease and Mall Management Private Limited (Corporate Debtor) and Praxis Home Retail Limited (Respondent No. 1) for an area of 44,500 sq. ft. in The Acropolis Mall, Ahmedabad, for a period of 21 years.
The monthly rent agreed upon was INR 2,00,000 or 4% of the monthly net sales, whichever is higher.
The Corporate Insolvency Resolution Process (CIRP) of Ojas Tradelease and Mall Management Private Limited was initiated on June 22, 2022, based on an application filed by Central Bank of India.
Avil Menezes was appointed as the Interim Resolution Professional (IRP) and later confirmed as Resolution Professional (RP).
…The Corporate Debtor…
Corporate Insolvency Resolution Process…