# In the matter of Eylex Films Pvt Ltd

> NCLT judgment dated 2025-03-17. Citation: TCN-2025-NCLT-01054. M/s. K.K. Homes, an operational creditor, filed a petition under Section 9 of the Insolvency…

- **Court:** NCLT
- **Order date:** 17 Mar 2025
- **Citation:** TCN-2025-NCLT-01054
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-ahmedabad/eylex-films-pvt-ltd-544c7e9f

## Summary

### Background

M/s. K.K. Homes, an operational creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Eylex Films Private Limited, the corporate debtor, for initiation of the Corporate Insolvency Resolution Process (CIRP) due to default in payment of operational debt amounting to Rs. 2,60,20,072.12.

## Facts

The petition was filed on 27.08.2024 by K.K. Homes against Eylex Films Private Limited.

The operational debt claimed is Rs. 2,60,20,072.12, including interest.

The date of default is stated to be from 10.05.2021.

K.K. Homes is a partnership firm engaged in the business of real estate and leasing of commercial premises.

Eylex Films Private Limited is a company engaged in the business of film exhibition and multiplex operations.

A lease agreement was entered into on 04.09.2014, whereby Eylex Films took on lease a 4-screen multiplex constructed by K.K. Homes.

Eylex Films defaulted in making lease payments, common area maintenance charges, and electricity charges.

K.K. Homes issued a demand notice on 15.12.2023, claiming Rs. 4,78,56,814.

…

## Issues and analysis

### Issue 1: Whether an unregistered lease agreement …

**Ratio:** The claim is based on invoices and financial transactions, not solely on the lease

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**Reasoning:** The Tribunal relied on the judgement of Consolidated Construction Consortium Limited VS.

…

**Interpretation:** The presence of an invoice (for having supplied goods or services) is not a

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**Application:** The claim is not barred solely due to an unregistered lease agreement. As per

…

## Parties

- **Judges:** SHAMMI…; SANJEEV S…
- **Appellants:** K. K. H…
- **Respondents:** Eylex Films…; Eylex Films Pvt.…
- **Other parties:** Keshav Kh…
- **Advocates:** Tirath…; Saumitra Chaturved…

## Timeline

- **2024-08-27 — Petition…**: The present Petition is filed on…
- **2021-05-10 — Date of D…**: The date of default is stated to be from…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 9 — Application for initiation of corporate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-9)

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