Mack Star Marketing Private Limited (Applicant) filed an application under Section 60(5) of the Insolvency and Bankruptcy Code, 2016 (IBC) seeking a declaration that the monthly fees payable by Jet Airways (India) Private Limited (Corporate Debtor) for using the Applicant's premises should be considered part of the Insolvency Resolution Process (IRP) costs. The Applicant had allowed the Corporate Debtor to use its premises under a Leave and License Agreement dated 24/02/2011. The Corporate Debtor defaulted on rent payments from March 2019. The Applicant issued notices to the Corporate Debtor to vacate the premises. Corporate Insolvency Resolution Process (CIRP) was initiated against the Corporate Debtor on 20/06/2019, based on a petition filed by a Financial Creditor
…Mack Star Marketing Private Limited (Applicant) owned premises which Jet Airways (India) Private Limited (Corporate Debtor) used under a Leave and License Agreement dated 24/02/2011. The Corporate Debtor defaulted on rent payments from March 2019. The Applicant issued a notice on 30/04/2019 to the Corporate Debtor to make the payments, failing which the Corporate Debtor would have to vacate the licensed premises. The Corporate Debtor failed to respond to the notice. The Applicant issued another notice on 28/11/2019 to the Respondent to vacate the premises and handover possession by 31/12/2019. CIRP was initiated against the Corporate Debtor on 20/06/2019. The Respondent, Ashish Chhawchharia, was appointed as the Resolution Professional (RP). The RP sent a letter on
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Leave and License Agreement executed between…
Jet Airways (India)…
Mack Star Marketing Private Limited (Applicant) filed an application under Section 60(5) of the Insolvency and Bankruptcy Code, 2016 (IBC) seeking a declaration that the monthly fees payable by Jet Airways (India) Private Limited (Corporate Debtor) for using the Applicant's premises should be considered part of the Insolvency Resolution Process (IRP) costs. The Applicant had allowed the Corporate Debtor to use its premises under a Leave and License Agreement dated 24/02/2011. The Corporate Debtor defaulted on rent payments from March 2019. The Applicant issued notices to the Corporate Debtor to vacate the premises. Corporate Insolvency Resolution Process (CIRP) was initiated against the Corporate Debtor on 20/06/2019, based on a petition filed by a Financial Creditor
…Mack Star Marketing Private Limited (Applicant) owned premises which Jet Airways (India) Private Limited (Corporate Debtor) used under a Leave and License Agreement dated 24/02/2011. The Corporate Debtor defaulted on rent payments from March 2019. The Applicant issued a notice on 30/04/2019 to the Corporate Debtor to make the payments, failing which the Corporate Debtor would have to vacate the licensed premises. The Corporate Debtor failed to respond to the notice. The Applicant issued another notice on 28/11/2019 to the Respondent to vacate the premises and handover possession by 31/12/2019. CIRP was initiated against the Corporate Debtor on 20/06/2019. The Respondent, Ashish Chhawchharia, was appointed as the Resolution Professional (RP). The RP sent a letter on
…Leave and License Agreement executed between…
Jet Airways (India)…