A property’s owners have an undisputed right over the property under ownership. Such undisputed right, including the right to use the property more often than not, is leased out to by the Owners against payment of lease rentals. The jurisprudence behind the treatment of the Landlord and the outstanding lease rentals by a Company undergoing the Corporate Insolvency Resolution Process (CIRP) has come a long way since the Insolvency and Bankruptcy Code, 2016 (IBC) has come into force. However, with every passing day, new and distinct problems as regards the treatment of the Landlord and the outstanding rental payment are being faced by the Landlord at different stages of an ongoing Corporate Insolvency Resolution Process (CIRP). The woes of the Landlord are far from over.
