The case involves an application by M/s. Ambience Commercial Developers Pvt. Ltd., the operational creditor, against M/s. Jot Impex Pvt. Ltd., the corporate debtor, under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. The operational creditor leased commercial space to the corporate debtor, but the corporate debtor failed to pay the monthly license fee, CAM, and electricity charges. Arbitration was initiated, resulting in an award in favor of the operational creditor. The operational creditor repossessed the property and issued a demand notice under Section 8 of the IBC due to unpaid license fee/lease rent. The notice sent via speed post was returned unserved, but the email was successfully delivered.
M/s. Ambience Commercial Developers Pvt. Ltd. (operational creditor) leased commercial space in a mall to M/s. Jot Impex Pvt. Ltd. (corporate debtor). The leased unit was UG-14, U.G.F., measuring 1450 sq. ft. The agreed lease rent was Rs. 280 per sq. ft. per month for the first 18 months and Rs. 300 per sq. ft. for subsequent months, with a tenure of three years. The corporate debtor failed to pay monthly license fees, CAM, and electricity charges. Arbitration resulted in an award of Rs. 38,70,398 in favor of the operational creditor. The operational creditor repossessed the property. A demand notice under Section 8 of the IBC was issued, returned unserved via speed post, but successfully delivered via email. The corporate debtor did not appear after notice from the
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M/s. Ambience Commercial Developers Pvt. Ltd.…
M/s. Jot Impex Pvt. Ltd.…
The case involves an application by M/s. Ambience Commercial Developers Pvt. Ltd., the operational creditor, against M/s. Jot Impex Pvt. Ltd., the corporate debtor, under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. The operational creditor leased commercial space to the corporate debtor, but the corporate debtor failed to pay the monthly license fee, CAM, and electricity charges. Arbitration was initiated, resulting in an award in favor of the operational creditor. The operational creditor repossessed the property and issued a demand notice under Section 8 of the IBC due to unpaid license fee/lease rent. The notice sent via speed post was returned unserved, but the email was successfully delivered.
M/s. Ambience Commercial Developers Pvt. Ltd. (operational creditor) leased commercial space in a mall to M/s. Jot Impex Pvt. Ltd. (corporate debtor). The leased unit was UG-14, U.G.F., measuring 1450 sq. ft. The agreed lease rent was Rs. 280 per sq. ft. per month for the first 18 months and Rs. 300 per sq. ft. for subsequent months, with a tenure of three years. The corporate debtor failed to pay monthly license fees, CAM, and electricity charges. Arbitration resulted in an award of Rs. 38,70,398 in favor of the operational creditor. The operational creditor repossessed the property. A demand notice under Section 8 of the IBC was issued, returned unserved via speed post, but successfully delivered via email. The corporate debtor did not appear after notice from the
…M/s. Ambience Commercial Developers Pvt. Ltd.…
M/s. Jot Impex Pvt. Ltd.…