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2019 (10) TMI 620 - Tri - Insolvency and BankruptcyMaintainability of application - initiation of CIRP - Corporate Debtor committed default - Section 9 of IBC, 2016, R/w Rule 6 of I&B(AAA) Rules, 2016 - HELD THAT:- The instant Petition is filed mainly to recover the alleged an outstanding amount of rent for ₹ 41,53,754/- which arise out of lease deed dated 13.02.2013. The lease deed dated 13.02.2013 was executed between the Petitioner and the Respondent. It is a settled position of law that the provisions of Code cannot be invoked for recovery of outstanding amount but it can be invoked to initiate CIRP for justified reasons as per the Code. The Hon'ble Supreme Court in the case of Mobilox Innovations (P.) Ltd. v. Kirusa Software Private Limited [2017 (9) TMI 1270 - SUPREME COURT] has inter alia, held that IBC, 2016 is not intended to be substitute to a recovery forum. The claim made in the instant Company Petition based on the expired Lease Deed as stated supra and that there is an alternative remedy available to the Petitioner to file Civil Suit to evict the tenant/Corporate Debtor and to recover alleged outstanding arrears of rent - Petition dismissed.
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