The appeal arises from an order dated 12.07.2024 passed by the Adjudicating Authority (National Company Law Tribunal, Ahmedabad Bench) in C.P. (IB) No. 108/AHM/2023, which rejected the Section 9 application filed by the Appellant-Operational Creditor. The Appellant, Lords Inn Hotels and Developers Private Limited, filed the appeal after being aggrieved by the rejection.
A Memorandum of Understanding (MoU) was signed on 04.06.2019 between Aarya Raj Club and Resorts LLP and Lords Sai Maa Hotels Pvt. Ltd. (LSMHPL), with Mr. P.R. Bansal as the authorised signatory for LSMHPL.
A Sales and Marketing Agreement (SMA) was signed on 10.06.2019 between LSMHPL, Aarya Raj Club and Resorts LLP, and IBFW Hospitality.
On 17.07.2019, Aarya Raj Club and Resorts LLP entered into a Franchisee and Management Agreement (FMA) with LIHDPL for the operation of the club/resort.
On 26.08.2021, P.R. Bansal and his group executed a MoU with Aarya Raj Club and Resorts LLP, agreeing to pay Rs 41.30 lakhs towards balance management fee to LIHDPL.
The Appellant-LIHDPL issued a Section 8 Demand Notice on 24.02.2023 to the Corporate Debtor for Rs 1.97 Cr.
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The appeal arises from an order dated 12.07.2024 passed by the Adjudicating Authority (National Company Law Tribunal, Ahmedabad Bench) in C.P. (IB) No. 108/AHM/2023, which rejected the Section 9 application filed by the Appellant-Operational Creditor. The Appellant, Lords Inn Hotels and Developers Private Limited, filed the appeal after being aggrieved by the rejection.
A Memorandum of Understanding (MoU) was signed on 04.06.2019 between Aarya Raj Club and Resorts LLP and Lords Sai Maa Hotels Pvt. Ltd. (LSMHPL), with Mr. P.R. Bansal as the authorised signatory for LSMHPL.
A Sales and Marketing Agreement (SMA) was signed on 10.06.2019 between LSMHPL, Aarya Raj Club and Resorts LLP, and IBFW Hospitality.
On 17.07.2019, Aarya Raj Club and Resorts LLP entered into a Franchisee and Management Agreement (FMA) with LIHDPL for the operation of the club/resort.
On 26.08.2021, P.R. Bansal and his group executed a MoU with Aarya Raj Club and Resorts LLP, agreeing to pay Rs 41.30 lakhs towards balance management fee to LIHDPL.
The Appellant-LIHDPL issued a Section 8 Demand Notice on 24.02.2023 to the Corporate Debtor for Rs 1.97 Cr.
…A Memorandum of Understanding was signed between…
A Sales and Marketing Agreement was signed…
Sign in to view related legal provisions.