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TMI Blog2018 (6) TMI 973X X X X Extracts X X X X X X X X Extracts X X X X ..... appeal against order dated 8th December, 2017 passed by the Adjudicating Authority (National Company Law Tribunal), Chennai Bench whereby and whereunder application preferred by the respondent - 'Mahesh Madhavan' under Section 9 of the Insolvency and Bankruptcy Code, 2016 (hereinafter referred to as the 'I&B Code') has admitted, order of moratorium has been passed and the 'Resolution Professional' has been appointed with certain directions. 2. The main plea taken by the appellant is that the appeal under Section 9 of the I & B Code was not maintainable against the second respondent, who was not the lessee or tenant of the Mahesh Madhavan (Operational Creditor). 3. The question arises for consideration in this appeal is whether a 'sub-ten ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e Government such as Service Tax and that any such taxes or levies shall be borne by the 'LESSEE' only; (iii) The 'LESSEE' further confirms that he shall furnish the 'LESSOR' the yearly certificates for Tax Deducted at Source (TDS) for the rents paid with respect to the demised premises. C. SECURTIY DEPOSIT: (i) The 'LESSEE' has agreed to pay to the 'LESSOR' an Interest free Security Deposit of Rs. 62,59,400/- (Rupees Sixty Two Lakhs Fifty Nine Thousand and Four Hundred Only) being ten months rent, as follows:- a. Rs. 40,00,000/- (Rupees Forty Lakhs Only) at the time of execution of this agreement vide RTGS through Axis Bank Ltd. UTR No. UTI30000248 SET 1 STP 12557/43318662 b. Balance of Rs. 22,59,400/- (Rupees Twenty Two Lak ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the 2nd Respondent. The relevant part of the agreement is as follows: "The Agreement of Lease entered into at Chennai on this 27th day of March in the Year Two Thousand and Fifteen (2015) BETWEEN 1. Mrs. Kaneez Fathima Khader, wife of Dr. A.K.Sait, aged about 63 years, residing No. 21, Rutland Gate IV Street, Nungambakkam, Chennai - 600 006. 2. Mrs. Zebunissa Hashim, Wife of Late M. Hashim Sulaiman, aged about 75 years, residing at No. 13, Sulaiman Zackria Avenue, Casa Major Road, Egmore, Chennai - 600 006. 3. Mrs. Razia Humayune Dada, wife of Mr. Humayune Dada, aged about 76 years, represented by her Power of Attorney Holder Mrs. Zebunissa Hashim, Wife of (late) M. Hashim Sulaiman, residing at 13, Sulaiman Zackria Avenue, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... taking on Lease the 7th floor admeasuring 8942 sq.ft.(super built up area), in the building known as "Gee Gee UNIVERSAL", No. 2 Mc.Nichols Road, Chetpet, Chennai - 600 031 together with 8 reserved open to sky car part around the building and furniture and fittings more particularly described in "Schedule - A" hereunder and hereinafter referred to as the "DEMISED PREMISES" for use as its own office. AND WHEREAS the Parties hereto are desirous of reducing the terms and conditions into writing by executing this Agreement NOW THIS AGREEMENT OF LEASE WITNESSETH AS FOLLOWS: 1. DURATION OF THE LEASE The LESSOR doth hereby confirm that they have granted unto the LESSEE herein a lease to use and occupy the DEMISED PREMISES with effect f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... October, 2014 to 5th May, 2015. 'Mr. Mahesh Madhavan' has shown to be 'Operational Creditor' and 'M/s. Black N Green Mobile Solutions Pvt. Ltd.' as Corporate Debtor. 7. From the admitted fact, we find that 'Mr. Mahesh Madhavan' (Operational Creditor) had not entered into any agreement with 'M/s. Black N. Green Mobile Solutions Pvt. Ltd.' (Corporate Debtor). The Agreement dated 3rd December, 2012 was reached between 'Mr. Mahesh Madhavan' (Operational Creditor) with one 'M/s. Universal Power Systems Pvt. Ltd.' and not with the Corporate Debtor in question. 'M/s. Black N. Green Mobile Solutions Pvt. Ltd.' (Corporate Debtor) is not in the occupation of the premises on the basis of aforesaid agreement dated 3rd December, 2012. A separate lease ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lished in the newspaper calling for applications all such orders and actions are declared illegal and are set aside. The application preferred by Respondent under Section 9 of the I&B Code, 2016 is dismissed. Learned Adjudicating Authority will now close the proceeding. 'M/s. Black N. Green Mobile Solutions Pvt. Ltd.' is released from all the rigour of law and is allowed to function independently through its Board of Directors from immediate effect. 11. Learned Adjudicating Authority will fix the fee of the 'Resolution Professional', and 'M/s. Black N. Green Mobile Solutions Pvt. Ltd.' will pay the fees and other cost incurred by the Resolution Professional. The appeal is allowed with aforesaid observation and direction. However, in the fa ..... X X X X Extracts X X X X X X X X Extracts X X X X
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