The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) by Mrs. Parmod Yadav and Mrs. Sneha Yadav (Operational Creditors/Applicants) against Divine Infracon Pvt. Ltd. (Corporate Debtor). The applicants, being mother and daughter, claim to be the owners of a service apartment leased to the corporate debtor. A lease agreement was entered into between the applicants (as lessors) and the corporate debtor (as lessee). The applicants claim that the corporate debtor defaulted on rental payments and issued a termination notice before the expiry of the lease period. The applicants filed a petition to initiate the Corporate Resolution Process (CIRP) against the corporate debtor.
Mrs. Parmod Yadav and Mrs. Sneha Yadav, as operational creditors, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Divine Infracon Pvt. Ltd., the corporate debtor. The applicants are the owners of a service apartment located in Dwarka, New Delhi. A lease agreement was entered into between the applicants (as lessors) and the corporate debtor (as lessee) on 16.8.2014, effective retrospectively from 10.1.2012, with a duration of 15 years. The monthly rental was Rs.1,37,250/- plus service tax. The corporate debtor issued a termination notice on 4.4.2016, terminating the agreement before the expiry of the lease period. The applicants claimed that Rs.12,62,700/- was due as rentals and interest at the time of termination, along with a
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Lease was made effective retrospectively on and…
Lease agreement dated 16.8.2014 entered into…
The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) by Mrs. Parmod Yadav and Mrs. Sneha Yadav (Operational Creditors/Applicants) against Divine Infracon Pvt. Ltd. (Corporate Debtor). The applicants, being mother and daughter, claim to be the owners of a service apartment leased to the corporate debtor. A lease agreement was entered into between the applicants (as lessors) and the corporate debtor (as lessee). The applicants claim that the corporate debtor defaulted on rental payments and issued a termination notice before the expiry of the lease period. The applicants filed a petition to initiate the Corporate Resolution Process (CIRP) against the corporate debtor.
Mrs. Parmod Yadav and Mrs. Sneha Yadav, as operational creditors, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Divine Infracon Pvt. Ltd., the corporate debtor. The applicants are the owners of a service apartment located in Dwarka, New Delhi. A lease agreement was entered into between the applicants (as lessors) and the corporate debtor (as lessee) on 16.8.2014, effective retrospectively from 10.1.2012, with a duration of 15 years. The monthly rental was Rs.1,37,250/- plus service tax. The corporate debtor issued a termination notice on 4.4.2016, terminating the agreement before the expiry of the lease period. The applicants claimed that Rs.12,62,700/- was due as rentals and interest at the time of termination, along with a
…Lease was made effective retrospectively on and…
Lease agreement dated 16.8.2014 entered into…