IVP LIMITED : MBPT PASSES EVICTION & DAMAGES ORDER ⚠️

• ⚖️ IVP has received an order from the Estate Officer, Mumbai Port Authority (MBPT) under the Public Premises Act, 1971 regarding a long-standing lease rent dispute. • 🏭 The dispute relates to a Mumbai Port Trust lease property, where IVP has challenged revised rent demands raised by MBPT since 2006. • 💰 Estate Officer has directed payment of: • ₹56.84 Cr as compensation (including taxes & interest) • ₹79.97 Cr as damages (including GST & interest) • 📊 Total claim against the company stands at ₹136.82 Cr. • 🏛️ IVP's writ petitions challenging the demand are pending before the Bombay High Court, with judgment reserved in one of the key matters. • 📑 The company plans to challenge the Estate Officer's order through statutory appeals and writ petitions before the City Civil Court and Bombay High Court. 🟠 Impact: Negative (Large claim exposure and adverse order create legal and financial uncertainty, although the company is contesting the demand and has not acknowledged the claims as debt.)

IVP LTD

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