Wakai Hospitality Private Limited filed an appeal against the order dated 29.02.2024 passed by the National Company Law Tribunal, Mumbai Bench-IV, regarding Interim Application No. 5065(MB) of 2023 in Company Petition (I.B) No. 543/MB/2022. The dispute concerns a Leave and License Agreement (LLA) between Wakai Hospitality and Rajmal Lakhichand Jewelers Private Limited (Corporate Debtor).
Wakai Hospitality entered into a Leave and License Agreement (LLA) with Rajmal Lakhichand Jewelers Private Limited on 14.07.2022 for commercial premises.
The LLA stipulated a monthly license fee of Rs. 7,50,000 with a 5% annual increment.
Wakai Hospitality was granted a 60-day fit-out period during which no license fees were payable.
Wakai Hospitality received a notice from the Municipal Corporation of Greater Mumbai (MCGM) restraining renovation activities due to lack of requisite permissions.
Wakai Hospitality claimed to have incurred substantial renovation costs and agreed with the Corporate Debtor to adjust these costs against future license fees.
CIRP was initiated against Rajmal Lakhichand Jewelers Private Limited on 09.02.2023.
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Wakai Hospitality Private Limited entered into…
CIRP was initiated…
Wakai Hospitality Private Limited filed an appeal against the order dated 29.02.2024 passed by the National Company Law Tribunal, Mumbai Bench-IV, regarding Interim Application No. 5065(MB) of 2023 in Company Petition (I.B) No. 543/MB/2022. The dispute concerns a Leave and License Agreement (LLA) between Wakai Hospitality and Rajmal Lakhichand Jewelers Private Limited (Corporate Debtor).
Wakai Hospitality entered into a Leave and License Agreement (LLA) with Rajmal Lakhichand Jewelers Private Limited on 14.07.2022 for commercial premises.
The LLA stipulated a monthly license fee of Rs. 7,50,000 with a 5% annual increment.
Wakai Hospitality was granted a 60-day fit-out period during which no license fees were payable.
Wakai Hospitality received a notice from the Municipal Corporation of Greater Mumbai (MCGM) restraining renovation activities due to lack of requisite permissions.
Wakai Hospitality claimed to have incurred substantial renovation costs and agreed with the Corporate Debtor to adjust these costs against future license fees.
CIRP was initiated against Rajmal Lakhichand Jewelers Private Limited on 09.02.2023.
…Wakai Hospitality Private Limited entered into…
CIRP was initiated…