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Mohan
3 years ago
A was inducted as a tenant in the premises, but the rent was always paid by the firm in which A was a partner. If both A and the firm do not pay rent, and if A is bankrupt, can rent arrears be recovered from the firm by filing case?
Ayantika Mondal @ Prime Legal
Responded 3 years ago
A.If A is bankrupt there will be initiation of Insolvency proceedings under the Insolvency and Bankruptcy Code, 2016 either by a financial creditor or operational creditor. If within a period of one year the Resolution Professional appointed by the court is able to revive the firm then it is possible that you could recover all your arrears. But in case the firm goes into liquidation after a year then you would be treated as an unsecured creditor and would get your arrears as per the waterfall arrangement under the Code.
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Jagannath S Pawar
Responded 3 years ago
A.It depends upon how the initial terms and conditions of the Tenancy agreement and subsequent dealings.
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A.If A is bankrupt there will be initiation of Insolvency proceedings under the Insolvency and Bankruptcy Code, 2016 either by a financial creditor or operational creditor. If within a period of one year the Resolution Professional appointed by the court is able to revive the firm then it is possible that you could recover all your arrears. But in case the firm goes into liquidation after a year then you would be treated as an unsecured creditor and would get your arrears as per the waterfall arrangement under the Code.
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A.Dear Sir,
Yes, you can recover arrears of rent from the firm also.
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Yes, you can recover arrears of rent from the firm also.
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