The appeal was filed under Section 61 of the Insolvency and Bankruptcy Code, 2016, by In Style Fashion, the Operational Creditor, against an order dated 11.10.2023 passed by the Adjudicating Authority (National Company Law Tribunal, Mumbai Bench - VI) in CP (IB) No.4099/MB/VI/2019. The Adjudicating Authority had rejected the Section 9 application filed by the Operational Creditor seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Aditya Birla Fashion and Retail Ltd., the Corporate Debtor. The Operational Creditor claimed to be a franchisee and commission agent for the Corporate Debtor, with showrooms opened under Agency Agreements dated 08.07.2011 and 20.12.2011. The showrooms closed on 02.02.2016, and the Operational Creditor claimed
…In Style Fashion, the Operational Creditor, sought to initiate CIRP against Aditya Birla Fashion and Retail Limited, the Corporate Debtor, based on outstanding operational debt. The Operational Creditor acted as a franchisee and commission agent for the Corporate Debtor, operating showrooms under Agency Agreements dated 08.07.2011 and 20.12.2011. The showrooms closed on 02.02.2016. The Operational Creditor claimed outstanding commission and invoices for salvageable and non-salvageable assets. The Corporate Debtor made a part payment of Rs.51,283.28 on 28.04.2017. A Section 8 demand notice was sent on 07.08.2019, claiming Rs. 1.05 crore. The Operational Creditor filed a Section 9 application, which was rejected by the Adjudicating Authority on the grounds of limitation
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Agency Agreement (Planet Fashion Agreement) was…
Agency Agreement (Allen Solly Agreement) was…
The appeal was filed under Section 61 of the Insolvency and Bankruptcy Code, 2016, by In Style Fashion, the Operational Creditor, against an order dated 11.10.2023 passed by the Adjudicating Authority (National Company Law Tribunal, Mumbai Bench - VI) in CP (IB) No.4099/MB/VI/2019. The Adjudicating Authority had rejected the Section 9 application filed by the Operational Creditor seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Aditya Birla Fashion and Retail Ltd., the Corporate Debtor. The Operational Creditor claimed to be a franchisee and commission agent for the Corporate Debtor, with showrooms opened under Agency Agreements dated 08.07.2011 and 20.12.2011. The showrooms closed on 02.02.2016, and the Operational Creditor claimed
…In Style Fashion, the Operational Creditor, sought to initiate CIRP against Aditya Birla Fashion and Retail Limited, the Corporate Debtor, based on outstanding operational debt. The Operational Creditor acted as a franchisee and commission agent for the Corporate Debtor, operating showrooms under Agency Agreements dated 08.07.2011 and 20.12.2011. The showrooms closed on 02.02.2016. The Operational Creditor claimed outstanding commission and invoices for salvageable and non-salvageable assets. The Corporate Debtor made a part payment of Rs.51,283.28 on 28.04.2017. A Section 8 demand notice was sent on 07.08.2019, claiming Rs. 1.05 crore. The Operational Creditor filed a Section 9 application, which was rejected by the Adjudicating Authority on the grounds of limitation
…Agency Agreement (Planet Fashion Agreement) was…
Agency Agreement (Allen Solly Agreement) was…