M/s. K.K. Ropeways Limited filed C.P. (IB) No.276/BB/2019 under Section 9 of the IBC, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Billion Smiles Hospitality Private Limited, alleging default of Rs.22,39,927.43/-. The operational debt arose from a Lease/Rent Agreement dated 09.03.2015, where Billion Smiles was to operate a food court in K.K. Ropeways' complex. Disputes arose regarding payment of rent, water, electricity, and CAM charges. K.K. Ropeways invoked arbitration, securing an award of Rs.26,33,022/- on 29.11.2018. Billion Smiles challenged the award in the Delhi High Court. K.K. Ropeways then issued a demand notice on 21.02.2019, but Billion Smiles failed to pay. The petition was filed on 20.06.2019.
K.K. Ropeways Limited (Operational Creditor) initiated CIRP against Billion Smiles Hospitality Pvt. Ltd. (Corporate Debtor) under Section 9 of IBC, claiming a default of Rs.22,39,927.43. The claim arose from a Lease/Rent Agreement dated 09.03.2015, where the Corporate Debtor was to operate a food court in the Operational Creditor's complex. The Corporate Debtor allegedly defaulted on rent, water, electricity, and CAM charges. The Operational Creditor obtained an arbitration award of Rs.26,33,022 on 29.11.2018. The Corporate Debtor challenged the award in the Delhi High Court. The Operational Creditor issued a demand notice on 21.02.2019. The petition was filed on 20.06.2019. The Corporate Debtor argued the debt was disputed due to the pending appeal and pointed out
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Lease/Rent Agreement entered between K.K.…
Corporate Debtor…
M/s. K.K. Ropeways Limited filed C.P. (IB) No.276/BB/2019 under Section 9 of the IBC, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against M/s. Billion Smiles Hospitality Private Limited, alleging default of Rs.22,39,927.43/-. The operational debt arose from a Lease/Rent Agreement dated 09.03.2015, where Billion Smiles was to operate a food court in K.K. Ropeways' complex. Disputes arose regarding payment of rent, water, electricity, and CAM charges. K.K. Ropeways invoked arbitration, securing an award of Rs.26,33,022/- on 29.11.2018. Billion Smiles challenged the award in the Delhi High Court. K.K. Ropeways then issued a demand notice on 21.02.2019, but Billion Smiles failed to pay. The petition was filed on 20.06.2019.
K.K. Ropeways Limited (Operational Creditor) initiated CIRP against Billion Smiles Hospitality Pvt. Ltd. (Corporate Debtor) under Section 9 of IBC, claiming a default of Rs.22,39,927.43. The claim arose from a Lease/Rent Agreement dated 09.03.2015, where the Corporate Debtor was to operate a food court in the Operational Creditor's complex. The Corporate Debtor allegedly defaulted on rent, water, electricity, and CAM charges. The Operational Creditor obtained an arbitration award of Rs.26,33,022 on 29.11.2018. The Corporate Debtor challenged the award in the Delhi High Court. The Operational Creditor issued a demand notice on 21.02.2019. The petition was filed on 20.06.2019. The Corporate Debtor argued the debt was disputed due to the pending appeal and pointed out
…Lease/Rent Agreement entered between K.K.…
Corporate Debtor…