The case originates from an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by Bhuwalka Mercantile LLP (Operational Creditor) against Aelis Enterprise Learning and Implementation Solutions Pvt. Ltd. (Corporate Debtor). The Operational Creditor sought initiation of the Corporate Insolvency Resolution Process (CIRP) due to unpaid rent and amenities as per a lease agreement and an amenities agreement. The Corporate Debtor defaulted on payments from January 2018 onwards.
Bhuwalka Mercantile LLP (Operational Creditor) leased a property to Aelis Enterprise Learning and Implementation Solutions Pvt. Ltd. (Corporate Debtor) under a lease agreement dated April 1, 2018, at a monthly rent of Rs. 67,500. An amenities agreement was also in place, requiring the Corporate Debtor to pay Rs. 60,000 monthly for maintenance. The rent was to increase by 20% every three years. The Corporate Debtor paid a security deposit of Rs. 4,05,000. The Corporate Debtor defaulted on rent and amenities payments from January 2018 onwards. The Operational Creditor issued demand notices, but the Corporate Debtor did not raise any dispute. The Corporate Debtor claimed the default was unintentional due to pending payments from the Government of India. The Operational
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Lease agreement between Bhuwalka Mercantile…
Aelis Enterprise Learning and Implementation…
The case originates from an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, by Bhuwalka Mercantile LLP (Operational Creditor) against Aelis Enterprise Learning and Implementation Solutions Pvt. Ltd. (Corporate Debtor). The Operational Creditor sought initiation of the Corporate Insolvency Resolution Process (CIRP) due to unpaid rent and amenities as per a lease agreement and an amenities agreement. The Corporate Debtor defaulted on payments from January 2018 onwards.
Bhuwalka Mercantile LLP (Operational Creditor) leased a property to Aelis Enterprise Learning and Implementation Solutions Pvt. Ltd. (Corporate Debtor) under a lease agreement dated April 1, 2018, at a monthly rent of Rs. 67,500. An amenities agreement was also in place, requiring the Corporate Debtor to pay Rs. 60,000 monthly for maintenance. The rent was to increase by 20% every three years. The Corporate Debtor paid a security deposit of Rs. 4,05,000. The Corporate Debtor defaulted on rent and amenities payments from January 2018 onwards. The Operational Creditor issued demand notices, but the Corporate Debtor did not raise any dispute. The Corporate Debtor claimed the default was unintentional due to pending payments from the Government of India. The Operational
…Lease agreement between Bhuwalka Mercantile…
Aelis Enterprise Learning and Implementation…