Hotel Horizon Pvt. Ltd. (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 against PCK Corporation LLP (Corporate Debtor) for resolution of an amount of Rs. 1,47,92,962/-. The application was admitted by the National Company Law Tribunal, Mumbai Bench IV, and Sunil Kumar Bansal was appointed as the IRP.
Hotel Horizon Pvt. Ltd. (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code against PCK Corporation LLP (Corporate Debtor).
The claim amount was Rs. 1,47,92,962/-.
The Corporate Debtor argued frustration of contract due to termination of a master franchise agreement.
The Operational Creditor is the owner of a land and building at Juhu Tara Road, Juhu Mumbai and leased out a unit to the Corporate Debtor.
A leave and license agreement was executed on 15.11.2017 for a period of 5 years for running a restaurant under the name of 'The Kattlery'.
The Corporate Debtor failed to pay the license fee, CAM charges, and other utilities.
The Operational Creditor issued a notice under Section 8 of the Code on 27.12.2019.
…Sign in to view the parties.
Order passed by the National Company Law…
The Appellate…
Hotel Horizon Pvt. Ltd. (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 against PCK Corporation LLP (Corporate Debtor) for resolution of an amount of Rs. 1,47,92,962/-. The application was admitted by the National Company Law Tribunal, Mumbai Bench IV, and Sunil Kumar Bansal was appointed as the IRP.
Hotel Horizon Pvt. Ltd. (Operational Creditor) filed an application under Section 9 of the Insolvency and Bankruptcy Code against PCK Corporation LLP (Corporate Debtor).
The claim amount was Rs. 1,47,92,962/-.
The Corporate Debtor argued frustration of contract due to termination of a master franchise agreement.
The Operational Creditor is the owner of a land and building at Juhu Tara Road, Juhu Mumbai and leased out a unit to the Corporate Debtor.
A leave and license agreement was executed on 15.11.2017 for a period of 5 years for running a restaurant under the name of 'The Kattlery'.
The Corporate Debtor failed to pay the license fee, CAM charges, and other utilities.
The Operational Creditor issued a notice under Section 8 of the Code on 27.12.2019.
…Order passed by the National Company Law…
The Appellate…