2019 (9) TMI 650

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....ali, owned by M/s Hind Motors India Limited (Respondent No. 2), vide Lease Deed dated 17.9.2016 (Annexure-P-6). The lease period specified was for a period of nine years with effect from 1.10.2016 to 30.9.2025 subject to payment of stipulated lease amount per month. The petitioner-Company had tendered a sum of Rs. 10.50 lacs as refundable security. It transpires that property in question was mortgaged to respondent No. 1-Union Bank of India by respondent No.2-Landlord/owner as collateral security towards a loan of about Rs. 15 crores. The Landlord-respondent No. 2 having defaulted in repayment of due installments and become bankrupt, thus filed a petition under Section 10 of Insolvency and Bankruptcy Code, 2016 (for short 'Code')....

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....space is available with the petitioner. Notice of motion to respondent Nos. 1 and 2 only for 8.3.2019. Notice re: stay. Process dasti only. Status quo shall be maintained till the next date of hearing. At this stage, Mr. Shailender Kashyap, Advocate and Mr. Kamal Satija, Advocate, who is present in Court, accept notice on behalf of respondent Nos. 1 and 2, respectively, who seek time to file reply. Let the requisite copies of the writ petition be supplied to the learned counsel for respondent Nos. 1 and 2, during the course of day. Reply, if any, be filed before the adjourned date with an advance copy to the counsel for the petitioner." 3) Thereafter, on 22.5.2019, following ....