Home Case Index All Cases Companies Law Companies Law + AT Companies Law - 2019 (6) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2019 (6) TMI 848 - AT - Companies LawOppression and Mismanagement - allegation of renting the premises on rent which would fetch higher rent if used as banquet hall - Interlocutory Application for vacating the interim order - HELD THAT:- The Respondents have filed the Report of the Chartered Accountant (G L Harlalka & Co.) dated 8th May, 2019 from which we find that income on account of hire charges for Banquet Hall (Special Event) in ground and Mezzanine Floor in respect of premises No. RAA-36, V.I.P. Road, Kolkata- 700059 is ₹ 4,75,000/- for the period from 1st April, 2017 to 31st March, 2018 - we find that for the said premises, the Company received a Term Sheet-cum-LOI from Perky General Retail (a business associate firm of ‘Reliance Corporate IT Part Limited’) on 8th January, 2019 who wished to take the basement, ground and mezzanine floor of the aforesaid premises i.e. same area on a monthly rent of ₹ 5,75,425/. As we find that monthly rent of the same premises is much more than annual amount generated by the Company by giving it rent for banquet purpose, we are not inclined to interfere with the interim order passed by the Tribunal. Appeal dismissed - decided against appellant.
|