Pardesi Constructions Pvt Ltd, the Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Coppertun Brewing Pvt. Ltd, the Corporate Debtor, for alleged default in payment of Operational Debt amounting to Rs.7,66,52,157.50 under a Service Agreement dated 03.10.2015 and a Leave and License Agreement dated 05.10.2015.
Pardesi Constructions Pvt Ltd filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016.
The application seeks to initiate Corporate Insolvency Resolution Process (CIRP) against Coppertun Brewing Pvt. Ltd.
The alleged default in payment of Operational Debt is Rs.7,66,52,157.50.
The debt arises from a Service Agreement dated 03.10.2015 and a Leave and License Agreement dated 05.10.2015.
The Corporate Debtor acquired the premises on leave and license basis and agreed to pay license and service charges.
The Corporate Debtor allegedly breached the agreement and failed to vacate the premises despite notices.
The Corporate Debtor claimed the petition was barred by limitation.
The Corporate Debtor claimed pending arbitration proceedings.
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Service Agreement…
Leave and License Agreement between Pardesi…
Pardesi Constructions Pvt Ltd, the Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Coppertun Brewing Pvt. Ltd, the Corporate Debtor, for alleged default in payment of Operational Debt amounting to Rs.7,66,52,157.50 under a Service Agreement dated 03.10.2015 and a Leave and License Agreement dated 05.10.2015.
Pardesi Constructions Pvt Ltd filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016.
The application seeks to initiate Corporate Insolvency Resolution Process (CIRP) against Coppertun Brewing Pvt. Ltd.
The alleged default in payment of Operational Debt is Rs.7,66,52,157.50.
The debt arises from a Service Agreement dated 03.10.2015 and a Leave and License Agreement dated 05.10.2015.
The Corporate Debtor acquired the premises on leave and license basis and agreed to pay license and service charges.
The Corporate Debtor allegedly breached the agreement and failed to vacate the premises despite notices.
The Corporate Debtor claimed the petition was barred by limitation.
The Corporate Debtor claimed pending arbitration proceedings.
…Service Agreement…
Leave and License Agreement between Pardesi…