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2019 (3) TMI 1596 - Tri - Companies LawOppression and Management - HELD THAT:- The applicant has sufficiently explained its reason to let out a portion of its building for earning money. In a case of oppression and mismanagement keeping idle a building which would fetch rent would cause hardship to the business interest of the Company. The letting can be terminated by giving 6 month notice on either side. The issues that higher rent would fetch if the vacancy in the building is advertised, that the applicant had fabricated the offer letter are cannot be considered at this preliminary hearing stage. It requires larger evidence. Therefore, in the better interest of the RI company, it appears to me that permission to let out the building basement floor referred to above can be allowed subject to passing final order in the IA with a direction to the applicant to keep the rent in a separate account in the name of the company which could not be utilised for any purpose until the disposal of the CP and file periodical report in every three month in the Tribunal by giving copy to the respondent. List the IA for hearing along with the CP to 10.05.2019.
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