No Right to Possession After Hotel Lease Expiry During CIRP Moratorium

Nazru S Basheer Vs Pancard Clubs Limited (NCLAT Delhi) National Company Law Appellate Tribunal (NCLAT), Delhi Bench, has affirmed an order issued by the National Company Law Tribunal (NCLT), Mumbai, directing Nazru S Basheer, a hotel operator, to vacate the ‘MB International’ hotel property belonging to Pancard Clubs Limited, the corporate debtor currently undergoing corporate insolvency resolution process (CIRP). The decision, delivered on May 6, 2025, underscores the NCLAT’s stance on possession rights post-resolution plan approval and the impact of the Insolvency and Bank...