Disclaimer of onerous property granted to the Official ...

Peaceful vacant possession granted to applicant from Official Liquidator. Objector's rights terminated upon sub-lease termination. Leave granted to disclaim property.

Case Laws Companies Law

July 26, 2024

Disclaimer of onerous property granted to the Official Liquidator to disclaim office space - peaceful, vacant possession to be handed over to applicant from Official Liquidator. Mortgage/charge enforceable only during subsistence of sub-lease. Company's account NPA since 31.12.2011, symbolic possession taken by PNB on 06.02.2013. Objector-PNB's rights terminated upon termination of sub-lease by applicant-IIPL. Objector cannot claim rights beyond company's sub-lease rights. Similar case of Stressed Assets Stabilization Fund. Leave granted to Official Liquidator to disclaim property, handover vacant possession to applicant within 45 days by removing padlocks/seals. Application disposed of.

View Source

← Previous Next →

Disclaimer of onerous property granted to the Official ...

Peaceful vacant possession granted to applicant from Official Liquidator. Objector's rights terminated upon sub-lease termination. Leave granted to disclaim property.

Case Laws Companies Law

July 26, 2024

You may also like:

Property transfer through shareholding agreement prior to winding up petition deemed valid commercial transaction in ordinary course of business. No mala fide intent or...

Refund the amount deposited by the applicant pursuant to the directions/ order of the DRT, Delhi - The High court observes that IFCI failed to demonstrate that the...

Court ordered dissolution of company and discharged Official Liquidator as Liquidator u/s 481 of Companies Act, 1956 as Official Liquidator could not proceed further...

Liability of Purchaser of corporate debtor under liquidation under auction - Certain demand raised by the liquidator - now post the execution of the Sale Certificate,...

Direction for investigation into the affairs of the company - reference the matter of SFIO on the request of the official liquidator - It is not the case of the Official...

Removal of the attachment orders - it is appropriate to raise the attachment and permit the Official Liquidator to take possession of property and proceed in accordance...

Acquisition of property by central government - order u/s 269UD - upon the passing an order u/s 269UD(1) by Appropriate Authority, the land would vest in the Government...

The grant from the Food and Agriculture Organisation of UN is not a supply under the GST Act. The applicant will not supply any goods or services to the FAO for the...

Initiation of CIRP - Requirement of issuance of notice to the creditors before admission of the application - Since the statutory Scheme does not contain any obligation...

Rejection of bail of the applicant - co-accused - accusation is that the applicant has misused his authority as despite the land falling within CRZ- III in respect of...

Liquidation Proceedings - Invocation of Bank Guarantee - there is no material to show that any fraud was played by the Corporate Debtor in obtaining Bank Guarantee from...

Handover of possession of the properties belonging to the Company (In Liquidation) - Tenants - The orders/decrees passed by the Courts in favour of tenants declaring...

Dissolution of company sought u/s 481 of Companies Act, 1956. Court opined liquidation proceedings warranted termination, company should be dissolved as Official...

The CESTAT ALLAHABAD held that the appeal abates u/s Rule 22 of Custom, Excise & Service Tax Appellate Tribunal Procedure Rules, 1982 due to the liquidation order by...

Validity of Ex-parte award after appointing official liquidator for winding up the company - official liquidator was still in seisin of the affairs of the judgment...

Quick Updates: