# In the matter of Aaj ka Anand Paper Limited

> NCLT judgment dated 2023-07-18. Citation: TCN-2023-NCLT-02456. The case involves an application (IA-1121/2023) filed by the Resolution Professional, Ms.…

- **Court:** NCLT
- **Order date:** 18 Jul 2023
- **Citation:** TCN-2023-NCLT-02456
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/aaj-ka-anand-paper-limited-b696533b

## Summary

### Background

The case involves an application (IA-1121/2023) filed by the Resolution Professional, Ms. Vineeta Maheshwari, concerning M/s Aaj Ka Anand Papers Limited (Corporate Debtor) in CP (IB) No. 760/2021. The application seeks directions to M/s Kwality Catering Services, the licensee of premises owned by the Corporate Debtor, to pay outstanding rent of Rs. 38,19,200/- and vacate the premises. The Corporate Debtor was admitted into CIRP on 31.3.2022 and subsequently ordered to be liquidated on 12.04.2023. The Corporate Debtor had entered into a Leave and License Agreement with Kwality Catering Services on 06/11/2020 for a period of 5 years, commencing from 01/03/2021. The licensee has defaulted in paying the license fees, leading to the application for eviction.

## Facts

M/s Aaj Ka Anand Papers Limited (Corporate Debtor) was admitted into CIRP on 31.03.2022 and subsequently ordered to be liquidated on 12.04.2023. Ms. Vineeta Maheshwari is the Resolution Professional. The Corporate Debtor had entered into a Leave and License Agreement with M/s Kwality Catering Services (Licensee) on 06.11.2020, registered before the Sub-Registrar of Haveli-III at Pune. The agreement was for a period of 5 years commencing from 01.03.2021 to 28.02.2026, allowing the licensee to use restaurant and lodging premises. The license fee was Rs. 2,75,000/- per month plus GST, with a 5% escalation after every 12 months from 01.03.2021. The Licensee paid an interest-free Security Deposit of Rs. 30,00,000/-. Clause 21.1 of the agreement stipulates that in case of

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## Issues and analysis

### Issue 1: Whether the NCLT can exercise its residuary jurisdiction under Section 60(5)(c) of the IBC to …

**Ratio:** Section 60(5)(c) of the IBC grants residuary jurisdiction to the NCLT to adjudicate any

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**Reasoning:** The court referred to the case of Gujarat Urja Vikas Nigam Ltd. Vs. Mr. Amit Gupta (2021)

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**Interpretation:** The residuary jurisdiction under Section 60(5)(c) is broad and allows the NCLT

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**Application:** In this case, the court found that the issue of termination of the agreement

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## Parties

- **Judges:** Prabhat…; KISHORE VEMULAPALL…
- **Appellants:** Vineeta Mah…
- **Respondents:** M/s Aaj ka Anand…; M/s Kwality…

## Timeline

- **2020-11-06 — Leave and License…**: Corporate Debtor entered into a Leave and License Agreement with M/s. Kwality Catering…
- **2021-03-01 — Agreement Comm…**: Leave and License Agreement…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 60(5) — Adjudicating Authority for corporate persons](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-60)

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