The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 by M/s. Seth Thakurdas Khinvraj Rathi (Operational Creditor) against M/s. Cals Refineries Ltd. (Corporate Debtor) for an unpaid operational debt of Rs. 1,08,75,799/-. The Operational Creditor had permitted the Corporate Debtor to use its premises in Mumbai under a Leave & Licence Agreement and a Licence and Hire Charges Agreement, both dated 10.3.2008, for a period of 5 years. Disputes arose regarding unpaid dues, leading to various legal proceedings including suits before the Small Causes Court, applications before the competent authority under the Maharashtra Rent Control Act, writ petitions before the Bombay High Court, and an SLP before the Supreme Court.
M/s. Seth Thakurdas Khinvraj Rathi (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 against M/s. Cals Refineries Ltd. (Corporate Debtor) for an unpaid operational debt of Rs. 1,08,75,799/-. The debt arose from a Leave & Licence Agreement and a Licence and Hire Charges Agreement, both dated 10.03.2008, under which the Operational Creditor allowed the Corporate Debtor to use its premises in Mumbai. The agreements were terminated by the Operational Creditor, and an application was filed under Section 24 of the Maharashtra Rent Control Act seeking eviction and damages. The Corporate Debtor's Leave to Defend application was rejected, and directions were issued to hand over possession and pay arrears of compensation. The
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Leave & Licence Agreement and Licence and Hire…
Corporate Debtor filed a suit before the…
The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 by M/s. Seth Thakurdas Khinvraj Rathi (Operational Creditor) against M/s. Cals Refineries Ltd. (Corporate Debtor) for an unpaid operational debt of Rs. 1,08,75,799/-. The Operational Creditor had permitted the Corporate Debtor to use its premises in Mumbai under a Leave & Licence Agreement and a Licence and Hire Charges Agreement, both dated 10.3.2008, for a period of 5 years. Disputes arose regarding unpaid dues, leading to various legal proceedings including suits before the Small Causes Court, applications before the competent authority under the Maharashtra Rent Control Act, writ petitions before the Bombay High Court, and an SLP before the Supreme Court.
M/s. Seth Thakurdas Khinvraj Rathi (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 against M/s. Cals Refineries Ltd. (Corporate Debtor) for an unpaid operational debt of Rs. 1,08,75,799/-. The debt arose from a Leave & Licence Agreement and a Licence and Hire Charges Agreement, both dated 10.03.2008, under which the Operational Creditor allowed the Corporate Debtor to use its premises in Mumbai. The agreements were terminated by the Operational Creditor, and an application was filed under Section 24 of the Maharashtra Rent Control Act seeking eviction and damages. The Corporate Debtor's Leave to Defend application was rejected, and directions were issued to hand over possession and pay arrears of compensation. The
…Leave & Licence Agreement and Licence and Hire…
Corporate Debtor filed a suit before the…