The appeal arises from an order dated 04.03.2020 passed by the National Company Law Tribunal, Jaipur Bench, which rejected an application filed by the appellant under Section 9 of the Insolvency and Bankruptcy Code, 2016. The appellant, Jaipur Trade Expocentre Private Limited, had entered into a license agreement with the respondent, M/S Metro Jet Airways Training Private Limited, for premises used for running an educational establishment. The appellant claimed outstanding dues as operational debt, which the Adjudicating Authority rejected, leading to the present appeal.
Jaipur Trade Expocentre Private Limited (Appellant) entered into a ‘Licence Agreement' with M/S Metro Jet Airways Training Private Limited (Respondent/Corporate Debtor) on April 15, 2017, for premises located at SP-10, Sitapur Industrial Area, Phase 4 Jaipur. The premises were to be used by the Corporate Debtor for running an Educational Establishment at a license fee of Rs. 4 Lacs per month. The license was granted for an initial period of 5 years, from June 1, 2017, to May 31, 2022. The Appellant received partial payments from the Corporate Debtor for outstanding license fees in November 2017. Two cheques issued by the Corporate Debtor, one dated May 7, 2018, and another dated October 8, 2018, each for Rs. 20 Lacs, were dishonored. Despite reminders, the Corporate
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Jaipur Trade Expocentre Private Limited entered…
The license was granted for an initial period…
The appeal arises from an order dated 04.03.2020 passed by the National Company Law Tribunal, Jaipur Bench, which rejected an application filed by the appellant under Section 9 of the Insolvency and Bankruptcy Code, 2016. The appellant, Jaipur Trade Expocentre Private Limited, had entered into a license agreement with the respondent, M/S Metro Jet Airways Training Private Limited, for premises used for running an educational establishment. The appellant claimed outstanding dues as operational debt, which the Adjudicating Authority rejected, leading to the present appeal.
Jaipur Trade Expocentre Private Limited (Appellant) entered into a ‘Licence Agreement' with M/S Metro Jet Airways Training Private Limited (Respondent/Corporate Debtor) on April 15, 2017, for premises located at SP-10, Sitapur Industrial Area, Phase 4 Jaipur. The premises were to be used by the Corporate Debtor for running an Educational Establishment at a license fee of Rs. 4 Lacs per month. The license was granted for an initial period of 5 years, from June 1, 2017, to May 31, 2022. The Appellant received partial payments from the Corporate Debtor for outstanding license fees in November 2017. Two cheques issued by the Corporate Debtor, one dated May 7, 2018, and another dated October 8, 2018, each for Rs. 20 Lacs, were dishonored. Despite reminders, the Corporate
…Jaipur Trade Expocentre Private Limited entered…
The license was granted for an initial period…