Home / Business and Economy / Royal Fragrances Alleges Lease Violations for Bengaluru IT Land
Royal Fragrances Alleges Lease Violations for Bengaluru IT Land
17 Oct
Summary
- Court issued notice on a petition alleging lease violations for IT park land.
- Royal Fragrances questions financial transactions involving current and prior lessees.
- Company seeks action from KIADB over alleged breaches of land allotment conditions.
The Karnataka High Court has issued a notice concerning a petition filed by Royal Fragrances Private Limited. This petition asserts alleged violations of lease conditions for land reserved for an IT park situated near Bengaluru.
Royal Fragrances claims that various financial transactions related to the property warrant scrutiny. These transactions involve the current lessee, Sai Srushti Infrastructure Innovation Projects India Private Limited, and its predecessor, RR Platina Infra. The company also references dealings with Micro Labs Limited and an Oaktree Capital Management-managed fund.
Specifically, the petition questions agreements for proposed built-up space and financing arrangements, including security interests over leasehold rights. Royal Fragrances contends these activities may breach the original lease-cum-sale agreement, which requires prior KIADB consent for mortgages and restricts their purpose.
The company previously submitted a representation to the Karnataka Industrial Areas Development Board (KIADB) on April 17, 2026, highlighting these alleged violations. As no action was taken, Royal Fragrances is now seeking a directive for the board to consider its representation and make a decision under the Karnataka Industrial Areas Development Act, 1966.
The High Court's order on October 9 pertains only to the issuance of notice and the future listing of the case. The court has not yet adjudicated the merits of the allegations presented by Royal Fragrances.
