Key Quantitative Figures

The order directs payment of:

  • Compensation: ₹56,84,13,376.16 (Rupees Fifty Six Crore Eighty Four Lakh Thirteen Thousand Three Hundred Seventy Six and Sixteen Paise Only), inclusive of Service Tax, GST & Interest
  • Damages: ₹79,97,39,419.79 (Rupees Seventy Nine Crore Ninety Seven Lakh Thirty Nine Thousand Four Hundred Nineteen and Seventy Nine Paise Only), inclusive of GST and Interest
  • Total Claim: ₹1,36,81,52,795.95 (Rupees One Hundred Thirty Six Crore Eighty One Lakh Fifty Two Thousand Seven Hundred Ninety Five and Ninety Five Paise Only)

This amount has been disclosed as a contingent liability of ₹92,59,18,726 (Rupees Ninety Two Crore Fifty Nine Lakh Eighteen Thousand Seven Hundred Twenty Six Only) in the company's financial statements, representing claims against the company not acknowledged as debts.

Dates of Action

  • Order received: June 11, 2026 (disclosure date)
  • Rent disputes ongoing since: September 2006
  • Supreme Court order referenced: January 13, 2004 (reported in 2004 (3) SCC 214)
  • Writ Petition filed: 2011 (Writ Petition No. 1439 of 2011)
  • Eviction proceedings filed by MBPT: 2019
  • Additional Writ Petition filed: 2022 (Writ Petition No. 3530 of 2022)

Parties Involved

  • IVP Limited (the Company)
  • Mumbai Port Authority (MBPT) - counterparty and regulatory authority
  • Office of Estate Officer, Mumbai Port Authority - issuing authority
  • Hon'ble Supreme Court of India
  • Hon'ble Bombay High Court
  • Hon'ble City Civil Court (for future appeals)

Purpose and Rationale

The company disputes the revised rent demands raised by MBPT since September 2006, claiming they are inconsistent with the Hon'ble Supreme Court order dated January 13, 2004. The company has been making payments strictly in accordance with the Supreme Court order.

Legal Proceedings Status

  • Writ Petition No. 1439 of 2011 before Bombay High Court: admitted and pending disposal
  • Writ Petition No. 3530 of 2022: heard by Division Bench of Bombay High Court along with other petitions from MBPT lessees, judgement reserved
  • Eviction proceedings: order passed under Public Premises Act

Forward Action

The company proposes to challenge the orders passed by the Estate Officer, MBPT by:

  • Filing Statutory Appeals before Hon'ble City Civil Court
  • Filing Writ Petition before Hon'ble High Court of Mumbai

Additional Information

The company commits to intimate further material developments in this matter to the Exchange in a timely manner in accordance with applicable regulatory requirements.