Highway Star Rest and Recreation Pvt. Ltd. (Operational Creditor/Petitioner) filed a Company Petition under Section 9 of the IBC, 2016, against Maiyas Restaurants Pvt. Ltd. (Corporate Debtor/Respondent) for a default in repayment of operational debt amounting to ₹2,49,57,627/-, with defaults commencing from 31.10.2018. The debt arose from a revenue sharing arrangement for a restaurant operated by the Corporate Debtor on the Petitioner's premises, involving monthly invoices for rent, utility, and marketing charges.
Highway Star Rest and Recreation Pvt. Ltd. (Operational Creditor/Petitioner) filed a Company Petition under Section 9 of the IBC, 2016, against Maiyas Restaurants Pvt. Ltd. (Corporate Debtor/Respondent).
The petition seeks initiation of Corporate Insolvency Resolution Process (CIRP) against Maiyas Restaurants Pvt. Ltd.
The default in repayment of operational debt amounts to ₹2,49,57,627/-.
Defaults commenced from 31.10.2018 and continued thereafter.
The Corporate Debtor was incorporated on 26.03.2014.
The Corporate Debtor runs a restaurant in the premises of the Operational Creditor based on a revenue sharing arrangement.
Monthly invoices were generated by the Operational Creditor for revenue sharing/minimum guarantee (rent), utility charges, and marketing charges.
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Defaults in repayment…
Date of default as…
Highway Star Rest and Recreation Pvt. Ltd. (Operational Creditor/Petitioner) filed a Company Petition under Section 9 of the IBC, 2016, against Maiyas Restaurants Pvt. Ltd. (Corporate Debtor/Respondent) for a default in repayment of operational debt amounting to ₹2,49,57,627/-, with defaults commencing from 31.10.2018. The debt arose from a revenue sharing arrangement for a restaurant operated by the Corporate Debtor on the Petitioner's premises, involving monthly invoices for rent, utility, and marketing charges.
Highway Star Rest and Recreation Pvt. Ltd. (Operational Creditor/Petitioner) filed a Company Petition under Section 9 of the IBC, 2016, against Maiyas Restaurants Pvt. Ltd. (Corporate Debtor/Respondent).
The petition seeks initiation of Corporate Insolvency Resolution Process (CIRP) against Maiyas Restaurants Pvt. Ltd.
The default in repayment of operational debt amounts to ₹2,49,57,627/-.
Defaults commenced from 31.10.2018 and continued thereafter.
The Corporate Debtor was incorporated on 26.03.2014.
The Corporate Debtor runs a restaurant in the premises of the Operational Creditor based on a revenue sharing arrangement.
Monthly invoices were generated by the Operational Creditor for revenue sharing/minimum guarantee (rent), utility charges, and marketing charges.
…Defaults in repayment…
Date of default as…