Vishal Mega Mart Subsidiary Faces ₹2.68 Crore Order in Landlord Dispute
Vishal Mega Mart's subsidiary, Airplaza Retail Holdings, received a court order to pay ₹2.68 crore in rent and vacate premises. The subsidiary plans to appeal the order. The dispute involves claims for contractual rent, GST, and potential daily mesne profits of ₹2 lakh.
The direct financial impact is quantified at ₹2.68 crore, and there's a potential for further costs due to daily mesne profit claims. While significant, the company is reviewing the order and intends to appeal, suggesting the final impact might be mitigated.
The company's subsidiary has received a court order mandating payment of a significant sum and vacating leased premises, which is a negative development.
Vishal Mega Mart Limited (VMM) has disclosed a legal dispute involving its subsidiary, Airplaza Retail Holdings Private Limited, with its landlord, Flowers Valley Floriculture Private Limited. The Commercial Court at Rajarhat, North 24 Parganas, West Bengal, has issued an order concerning eviction from leased premises and recovery of contractual rent and mesne profits for a store located at Kazi Nazrul Islam Avenue (VIP Road), Jyangra, Kolkata.
The interim order directs VMM's subsidiary to pay ₹2,68,31,676 towards contractual rent and applicable GST for the period from April 2020 to December 18, 2020. Additionally, the subsidiary must vacate and hand over peaceful possession of the entire suit property, including parking spaces, within two months from the order date.
The dispute also includes a claim for mesne profits at a rate of ₹2,00,000 per day from December 19, 2020, until the peaceful possession of the premises is recovered. The financial impact of this order is currently limited to the decreed amount. The subsidiary is reviewing the order and plans to file an appeal.
The announcement was made on August 17, 2026.
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Vishal Mega Mart Limited filed this with the NSE as a statutory disclosure, categorised under litigation updates. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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