Reliance Realty Limited (Appellant/Operational Creditor) filed an appeal against an NCLT order dated September 5, 2024, which dismissed its Section 9 application to initiate Corporate Insolvency Resolution Process (CIRP) against Altruist Customer Management India Pvt. Ltd. (Respondent/Corporate Debtor). The Section 9 application sought to recover operational debt amounting to INR 24,34,59,787 (or INR 25,48,83,305/- as claimed later) for unpaid rental dues under a License Agreement dated March 29, 2019. The NCLT dismissed the application on the ground of a purported pre-existing dispute regarding the operational debt.
Reliance Realty Limited (Appellant/Operational Creditor) filed a Section 9 application under the IBC against Altruist Customer Management India Pvt. Ltd. (Respondent/Corporate Debtor).
The application sought to initiate Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor for an outstanding operational debt of INR 24,34,59,787 (or INR 25,48,83,305/- as claimed later) comprising rental dues.
The debt arose from a License Agreement dated March 29, 2019, for premises located at Building No. A-8, Sector 1, Plot No. MBP-2, TTC Industrial area, Mahape, Thane.
The NCLT, New Delhi Bench, dismissed the Section 9 application on September 5, 2024, on the grounds of a pre-existing dispute.
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Reliance Realty Limited (Appellant/Operational Creditor) filed an appeal against an NCLT order dated September 5, 2024, which dismissed its Section 9 application to initiate Corporate Insolvency Resolution Process (CIRP) against Altruist Customer Management India Pvt. Ltd. (Respondent/Corporate Debtor). The Section 9 application sought to recover operational debt amounting to INR 24,34,59,787 (or INR 25,48,83,305/- as claimed later) for unpaid rental dues under a License Agreement dated March 29, 2019. The NCLT dismissed the application on the ground of a purported pre-existing dispute regarding the operational debt.
Reliance Realty Limited (Appellant/Operational Creditor) filed a Section 9 application under the IBC against Altruist Customer Management India Pvt. Ltd. (Respondent/Corporate Debtor).
The application sought to initiate Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor for an outstanding operational debt of INR 24,34,59,787 (or INR 25,48,83,305/- as claimed later) comprising rental dues.
The debt arose from a License Agreement dated March 29, 2019, for premises located at Building No. A-8, Sector 1, Plot No. MBP-2, TTC Industrial area, Mahape, Thane.
The NCLT, New Delhi Bench, dismissed the Section 9 application on September 5, 2024, on the grounds of a pre-existing dispute.
…Reliance Group Companies (RCOM, RCIL, RTL,…
A MoS was entered into by Group Companies and…
Sign in to view related legal provisions.