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2011 (8) TMI 970 - HC - Companies LawWinding up – EMD was deposited by higher bidder - Property was occupied by appellant-trust under a lease agreement - after filing of the winding up petition, the second lease deed was executed for thirty years period on a meagre rent of Rs. 5,000 per month with minimal increase of 20 per cent – Held that:- Official Liquidator was collecting rent from appellant, it could not amount to attornment of tenancy nor it could amount to acceptance of leasehold right of appellant; and amount so collected could only be treated as damages for use and occupation of property - Keeping in view the interest of the company in liquidation, the secured creditors and the claims of the employees, it would be appropriate to direct the appellant to pay damages for use and occupation of the building and the surrounding land - appellant is granted time for vacating and handing over vacant possession of the building and vacant land
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