https://www.taxtmi.com/caselaws?id=756043 A sub-demised office space burdened by unpaid rent and contractual charges was treated as onerous property, and the sub-lease had been validly terminated for default. Once the sub-lease ended, the company in liquidation retained no subsisting interest in the premises that could be asserted by the Official Liquidator or passed to the secured creditor. The bank's mortgage and SARFAESI enforcement could not create a better title than the underlying leasehold interest, so its rights remained derivative and ineffective after termination. Leave was therefore granted to disclaim the premises, and the applicant was entitled to vacant, peaceful and khas possession, while the monetary claim remained for determination in winding-up proceedings. en-us Tue, 28 May 2024 00:00:00 +0530 Thu, 25 Jul 2024 10:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=756043 A sub-demised office space burdened by unpaid rent and contractual charges was treated as onerous property, and the sub-lease had been validly terminated for default. Once the sub-lease ended, the company in liquidation retained no subsisting interest in the premises that could be asserted by the Official Liquidator or passed to the secured creditor. The bank's mortgage and SARFAESI enforcement could not create a better title than the underlying leasehold interest, so its rights remained derivative and ineffective after termination. Leave was therefore granted to disclaim the premises, and the applicant was entitled to vacant, peaceful and khas possession, while the monetary claim remained for determination in winding-up proceedings. Case-Laws Companies Law Tue, 28 May 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=756043