- (1.) The above application is filed under Section 60(5) of Insolvency and Bankruptcy Code, 2016 praying this Tribunal to Direct the Resolution Professional to consider the claim of the Applicant as Insolvency Resolution Process cost as per Regulation 31(b) of Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulation, 2016 and be paid in priority to workmen, employees and all other class of Operational Creditors; and
(2.) Pass any such order, as the Tribunal may deem fit, in the interest of justice and equity. The averments made in application are as follows: 1. It is averred by the Applicant that the Operational Creditor herein is the landlord of the Corporate Debtor and retains all right, title and interest over the property bearing Plot No.16, Sy.No.42(P) , Hosur Road, Electronics City Phase-II, Bengaluru 560 100 out of which the Corporate Debtor was running and operating its business. The Lease Deed dated 29.06.2016 entered as Document No.2360/16-17 in Book I and stored in CD No.JAYD259 in the offices of the Sub-Registrar, Jayanagar. Copy of the lease deed dated 29.06.2016 is produced herewith as Annexure-A to the application. 2. That the Corporate Debtor has not been paying rent for the premises since January, 2017 and that the total amount of claim due to the Applicant by the Corporate Debtor is Rs. 1,47,94,599/- thus entitled to arrears of rent and vacant possession of the said property/premises due to the Corporate Debtors inability to pay monthly rentals as well as the equipment purchased by the Applicant for the benefit of Corporate Debtor and located in the leased premises.
(3.) It is further averred that due to non-payment of the rents, the Applicant has filed a suit bearing O.S. No.1909/2017 before Hon'ble Principal Senior Civil Judge, Bengaluru Rural District, for eviction of the Corporate Debtor from the premises and for payment of the arrears of rent payable to the Petitioner. The said suit is still pending. Copy of the Plaint in O.S. No.1909/2017 is produced herewith as Annexure-B.;