G.U. Kameswara Rao, an operational creditor, filed a petition against Indus Towers Limited, the corporate debtor, under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, alleging a default of Rs. 26,01,788/-. The operational creditor sought initiation of the Corporate Insolvency Resolution Process (CIRP), a moratorium, and appointment of an Interim Resolution Professional. The corporate debtor raised preliminary objections regarding the maintainability of the application, primarily questioning the jurisdiction of the National Company Law Tribunal (NCLT), Hyderabad Bench.
G.U. Kameswara Rao, the operational creditor, filed a petition against Indus Towers Limited, the corporate debtor, under Section 9 of the IBC, claiming a default of Rs. 26,01,788/-. A lease deed dated 06.03.2014 was executed between the parties, where Indus Towers Limited leased terrace rights from G.U. Kameswara Rao for installing a telecom tower. Indus Towers Limited paid a security deposit of Rs. 1.1 Lakhs and agreed to a monthly rental of Rs. 27,500/-. The operational creditor claimed that Indus Towers Limited defaulted on rental payments after initially paying Rs. 67,500/-. The corporate debtor argued that the NCLT Hyderabad lacked jurisdiction because its registered office had shifted from New Delhi to Gurgaon, Haryana. The operational creditor had provided
…Sign in to view the parties.
A lease deed was executed between G.U. Kameswara…
Operational creditor…
G.U. Kameswara Rao, an operational creditor, filed a petition against Indus Towers Limited, the corporate debtor, under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, alleging a default of Rs. 26,01,788/-. The operational creditor sought initiation of the Corporate Insolvency Resolution Process (CIRP), a moratorium, and appointment of an Interim Resolution Professional. The corporate debtor raised preliminary objections regarding the maintainability of the application, primarily questioning the jurisdiction of the National Company Law Tribunal (NCLT), Hyderabad Bench.
G.U. Kameswara Rao, the operational creditor, filed a petition against Indus Towers Limited, the corporate debtor, under Section 9 of the IBC, claiming a default of Rs. 26,01,788/-. A lease deed dated 06.03.2014 was executed between the parties, where Indus Towers Limited leased terrace rights from G.U. Kameswara Rao for installing a telecom tower. Indus Towers Limited paid a security deposit of Rs. 1.1 Lakhs and agreed to a monthly rental of Rs. 27,500/-. The operational creditor claimed that Indus Towers Limited defaulted on rental payments after initially paying Rs. 67,500/-. The corporate debtor argued that the NCLT Hyderabad lacked jurisdiction because its registered office had shifted from New Delhi to Gurgaon, Haryana. The operational creditor had provided
…A lease deed was executed between G.U. Kameswara…
Operational creditor…