C JAYARAJ Vs. INNOVATIVE STUDIOS PRIVATE LIMITED

JUDGEMENT

(1.) THE petitioner is the land lord and absolute owner of the commercial properties with built-up areas, ad measuring 6026 sq. ft. in the property in upper ground floor in O and L Blocks in the property No.24(P), 26(P), 24 and 26 of Bidadi Industrial Area in Sy. No.21, 22, 23, 24, 27 and 135 of Abbana Kuppe Village, Bidadi Hobli, Ramanagar Taluk, Ramanagara District (which are more fully described in the Schedule herein and herein after referred to as the Schedule Premises).

(2.) THE respondent company is a Private Limited Company incorporated on 16.09.2003 having its registered office at No.135, Outer Ring Road, Varthur Hobli, Marathahalli Junction, Bangalore � 560 037. The respondent company is promoted and incorporated for running enterprise called "Innovative Film City" comprising of film studios, film institute and hostel, entertainment plaza, retail high street and etc.

(3.) IT is stated that certain disputes arose between the respondent and the petitioner's son Mr.J.Somashekar, as regards the shareholding Agreement executed between them and other related matters. The petitioner's son instituted proceedings in Company Petition No.65/2009 before the Company Law Board, Southern Regional Bench, Chennai under Sections 397 and 398 of the Companies Act and the same was disputed. A Compromise Petition was entered into wherein the first respondent accepted the petitioner's title to the property. The petitioner was not a party to the proceedings, but the proceedings before the Company Law Board in COP No.65/2009 is relevant as the petitioner's title to the schedule property is accepted by the first respondent. It is submitted that in terms of the Compromise Petition, the respondent company agreed to pay at the reduced rate of Rs.50/- per sq. ft. Inspite of which, the respondent company has not even paid this amount as stood in terms of the Compromise Petition before the Company Law Board. Hence, the petitioner issued a legal notice dated 07.08.2010 wherein the first respondent replied to the same on 17.08.2010 and on 18.08.2010. The copy of the legal notice dated 07.08.2010, the reply notice caused by the first respondent dated 17.08.2010 and the reply notice dated 18.08.2010 issued by M/s.Innovative Property Management Agreement and M/s.Innovative Leisure and Entertainment Private Limited are marked as Annexures J, K and L. It is categorically stated in the notice that the respondent is liable to pay its admitted liability of a sum of Rs.1,01,899. Thereafter, the petitioner issued a legal notice dated 20.12.2010 calling upon the first respondent to pay the arrears of rent, for which the respondent have issued reply notice on 21.01.2011 and the same are marked as Annexures M and N. Since the respondent company failed to comply with the legal notice and has failed to pay the arrears of rent as demanded and since the respondent company is liable to pay the arrears of rent to the petitioner for the period December 2009 to 20 th November 2010 in a sum of Rs.12,22,795/- at the current rate of @ Rs.16.91 for the total area of 6026 sq. ft in a sum of Rs.1,01,899/- per month, the present petition is filed.