The case involves a dispute between Mack Star Marketing Pvt. Ltd. (Appellant) and Ashish Chawchharia, the Resolution Professional of Jet Airways (India) Pvt. Ltd. (Corporate Debtor), regarding license fees for office premises leased by the Appellant to Jet Airways. A Leave and License Agreement was entered into on 24.02.2011. Jet Airways defaulted on payments, leading the Appellant to issue a notice on 30.04.2019, stating the agreement could be terminated if payments weren't made within 30 days. CIRP commenced against Jet Airways on 20.06.2019. The Appellant filed an I.A. seeking to treat the outstanding license fees as part of the CIRP costs. The Adjudicating Authority ruled against the Appellant, directing them to refund the security deposit after deducting license
…Mack Star Marketing Pvt. Ltd. (Appellant) and Jet Airways (India) Pvt. Ltd. (Corporate Debtor) entered into a Leave and License Agreement on 24.02.2011 for office premises. A security deposit was made by Jet Airways. In 2018, Jet Airways vacated four office units, and unpaid dues were set off against the security deposit, leaving a balance of INR 1,35,08,352/-. Monthly fees for the two retained units were INR 28,51,031/-. On 28.02.2019, the Appellant requested that future payments be deposited in an ICICI Bank account. Jet Airways failed to pay license fees for March and April 2019. On 30.04.2019, the Appellant issued a notice giving Jet Airways 30 days to pay, failing which the agreement could be terminated. Jet Airways neither paid nor vacated. CIRP commenced against
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Mack Star Marketing Pvt. Ltd. and Jet Airways…
Jet Airways vacated four office units, and…
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The case involves a dispute between Mack Star Marketing Pvt. Ltd. (Appellant) and Ashish Chawchharia, the Resolution Professional of Jet Airways (India) Pvt. Ltd. (Corporate Debtor), regarding license fees for office premises leased by the Appellant to Jet Airways. A Leave and License Agreement was entered into on 24.02.2011. Jet Airways defaulted on payments, leading the Appellant to issue a notice on 30.04.2019, stating the agreement could be terminated if payments weren't made within 30 days. CIRP commenced against Jet Airways on 20.06.2019. The Appellant filed an I.A. seeking to treat the outstanding license fees as part of the CIRP costs. The Adjudicating Authority ruled against the Appellant, directing them to refund the security deposit after deducting license
…Mack Star Marketing Pvt. Ltd. (Appellant) and Jet Airways (India) Pvt. Ltd. (Corporate Debtor) entered into a Leave and License Agreement on 24.02.2011 for office premises. A security deposit was made by Jet Airways. In 2018, Jet Airways vacated four office units, and unpaid dues were set off against the security deposit, leaving a balance of INR 1,35,08,352/-. Monthly fees for the two retained units were INR 28,51,031/-. On 28.02.2019, the Appellant requested that future payments be deposited in an ICICI Bank account. Jet Airways failed to pay license fees for March and April 2019. On 30.04.2019, the Appellant issued a notice giving Jet Airways 30 days to pay, failing which the agreement could be terminated. Jet Airways neither paid nor vacated. CIRP commenced against
…Mack Star Marketing Pvt. Ltd. and Jet Airways…
Jet Airways vacated four office units, and…
Sign in to view related legal provisions.