News Stocks Lancor Holdings Limited Regains Possession of Commercial Property Following Delhi High Court OrderLancor Holdings Limited Regains Possession of Commercial Property Following Delhi High Court Order
Lancor Holdings Limited has received a favorable order from the Delhi High Court directing the Official Liquidator to release possession of a commercial property at VTN Square, Chennai, to Bank of India, which will subsequently hand it over to the company by February 15, 2026. The property, located one floor below the company's registered office, was originally acquired through an e-auction and has been subject to lengthy legal proceedings. The court order dated January 22, 2026, concludes the litigation and is expected to enhance the company's operational efficiency while reducing litigation costs.
*this image is generated using AI for illustrative purposes only.
Lancor Holdings Limited has successfully secured the release of a commercial property following a favorable order from the Delhi High Court. The company disclosed this significant development in a regulatory filing dated January 27, 2026, pursuant to Regulation 30 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.
Court Order Details
The Hon'ble High Court of Delhi at New Delhi issued an order on January 22, 2026, directing the Official Liquidator to release possession of the commercial property to Bank of India. The court order was uploaded to the court website on January 27, 2026.
| Parameter: | Details |
|---|---|
| Property Location: | 1st Floor, VTN Square, No.58, G N Chetty Road, T Nagar, Chennai – 600 017 |
| Court: | Hon'ble High Court of Delhi at New Delhi |
| Case Number: | CO.PET. 329/2013 and Co. appl 967/2024 |
| Possession Transfer Date: | By February 15, 2026 |
| Nature of Case: | Civil |
Property Background
The commercial property was originally acquired by Lancor Holdings through an e-auction conducted by Auction Tiger under the instructions of Bank of India's Asset Recovery Branch, New Delhi. The property holds strategic importance as it is located one floor below the company's registered office in Chennai.
The legal proceedings involved Deutsche Trustee Company Limited versus Tulip Telecom Limited. During the litigation process, the Sale Certificate issued in favor of Lancor Holdings was initially stayed by the Presiding Officer of the Debt Recovery Tribunal (DRT), Delhi. However, this stay was subsequently lifted, and the property was registered in the company's name.
Court Proceedings and Resolution
In the recent court application CO.APPL. 967/2024, Bank of India sought directions for the Official Liquidator to release the property. The Standing Counsel for the Official Liquidator stated that they had no objection to the release, considering their previous statement before the DRT that the property belonged to Golf Technologies Pvt. Ltd., and not to the company in liquidation.
The court allowed the application and ordered the release of the property, with possession to be handed over to Bank of India by February 15, 2026. The Official Liquidator has been given time to remove any moveable assets of the company in liquidation before the handover.
Impact on Company Operations
According to the company's disclosure, this development will have several positive impacts:
- Enhanced working space for staff, management, customers, and visitors
- Improved work efficiency through better space utilization
- Reduction in ongoing litigation costs
The company has confirmed its acceptance of the Delhi High Court's order and stated it will take all necessary steps as per the court's directions to complete the possession transfer process by the stipulated deadline.
Historical Stock Returns for Lancor Holdings
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +2.59% | -4.95% | -26.72% | -12.56% | -14.38% | -61.80% |
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