JUDGMENT :-

A. ISSUE FOR CONSIDERATION

1) The issue involved in the Revision Application is permissibility to seek restoration of protection of rent control legislation by an entity, which has once lost the same. Section 3(1)(b) of the Maharashtra Rent Control Act, 1999 (MRC Act) excludes the entities enumerated therein from application of the Act. Accordingly a public or private limited company having paid up share capital of rupees one crore or more is excluded from protection of its tenancy under the MRC Act. The issue that this Court is tasked upon to decide is whether a company which had paid up share capital in excess of Rs. 1 Crore as on the date of coming into effect of MRC Act (31 March 2000) and had lost the rent control protection, can resume the lost rent control protection on account of subsequent reduction of its paid up share capital below Rs. 1 crore.

B. THE CHALLENGE

2) Applicant-lessor is aggrieved by dismissal of its Suit seeking ejectment of Respondent and has accordingly invoked revisionary jurisdiction of this Court under Section 115 of the Code of Civil Procedure, 1908 (Code) for setting up a challenge to the Judgment and Order dated 11 August 2023 passed in P. A