Appellate Tribunal Confirms Rent at Rs.1,09,448/Month with 5% Hike; Orders Partial Appeal, Claim Adjustment in Form B.

The Appellate Tribunal upheld the Adjudicating Authority's decision regarding the rent amount, confirming it should be Rs.1,09,448/- per month with a 5% increase, as per the agreement dated 15.05.2017. The Tribunal acknowledged the Appellant's claim should not be reduced solely due to the absence of invoices after April 2018. The Tribunal directed the Resolution Professional to admit and modify the claim in Form B according to the Adjudicating Authority's instructions, partially allowing the appeal while affirming the rest of the order.

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Issues involved:
The issues involved in the judgment are related to a dispute over rent and other claims between the Appellant, who claims to be the landlord of the premises occupied by the Corporate Debtor, and the Resolution Professional.

Rent Dispute:
The Adjudicating Authority accepted the claim of rent at Rs.1,09,448/- per month with a 5% increase, as per the terms of the agreement dated 15.05.2017. The Appellant challenged this decision, arguing that the market rate of the premises is Rs.1,71,875/- and should have been accepted. The Appellant also claimed damages for occupation as the agreement ended in April 2018, and no invoices were issued thereafter. The Resolution Professional defended the Adjudicating Authority's decision, stating that the agreed rent should be paid as per the agreement terms. The Resolution Professional admitted the claim only to the extent of invoices received.

Resolution of Rent Dispute:
The Appellate Tribunal upheld the Adjudicating Authority's decision on the rent amount, stating that the agreed rent was in accordance with the agreement terms. However, the Tribunal noted that the Appellant's claim should not have been reduced solely based on the lack of invoices post-April 2018. The Tribunal directed the Resolution Professional to admit the claim in Form B and modify it as per the Adjudicating Authority's direction in the impugned order. The appeal was partly allowed to modify the claim in Form B, while affirming the rest of the impugned order.

This summary highlights the key issues and details of the judgment regarding the rent dispute and other related claims between the parties involved.

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