The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 by M/s Amar Constructions (Operational Creditor) against M/s Carnival Films Private Limited (Corporate Debtor) for initiating Corporate Insolvency Resolution Process (CIRP). The operational creditor and corporate debtor entered into a commercial lease deed on 25.03.2021 for a period of 15 years, where the operational creditor provided the corporate debtor premises for running a multiplex. The corporate debtor defaulted on payments, leading to the issuance of a demand notice under Section 8 of the Code. The corporate debtor acknowledged the demand notice but cited the pandemic as the reason for the delay in payments. The corporate debtor neither replied to the present
…M/s Amar Constructions (Operational Creditor) and M/s Carnival Films Private Limited (Corporate Debtor) entered into a commercial lease deed on 25.03.2021 for a period of 15 years. The operational creditor provided the corporate debtor premises for running a multiplex at Fundore Complex, Indore. The monthly lease amount was Rs 7,36,695/- and maintenance charges were Rs 1,66,442/-. The corporate debtor was allowed to commence business from 18.03.2021. The corporate debtor started defaulting from the first month of the agreement. Parties entered into a settlement for the first three months (April to July 2021) for Rs 17,38,600/-, but still, partial payment of Rs 6,54,051/- was made by the corporate debtor. Thereafter, the corporate debtor completely stopped payment of
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Commercial lease deed executed between M/s…
Lessee (M/s Carnival Films Private Limited)…
The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 by M/s Amar Constructions (Operational Creditor) against M/s Carnival Films Private Limited (Corporate Debtor) for initiating Corporate Insolvency Resolution Process (CIRP). The operational creditor and corporate debtor entered into a commercial lease deed on 25.03.2021 for a period of 15 years, where the operational creditor provided the corporate debtor premises for running a multiplex. The corporate debtor defaulted on payments, leading to the issuance of a demand notice under Section 8 of the Code. The corporate debtor acknowledged the demand notice but cited the pandemic as the reason for the delay in payments. The corporate debtor neither replied to the present
…M/s Amar Constructions (Operational Creditor) and M/s Carnival Films Private Limited (Corporate Debtor) entered into a commercial lease deed on 25.03.2021 for a period of 15 years. The operational creditor provided the corporate debtor premises for running a multiplex at Fundore Complex, Indore. The monthly lease amount was Rs 7,36,695/- and maintenance charges were Rs 1,66,442/-. The corporate debtor was allowed to commence business from 18.03.2021. The corporate debtor started defaulting from the first month of the agreement. Parties entered into a settlement for the first three months (April to July 2021) for Rs 17,38,600/-, but still, partial payment of Rs 6,54,051/- was made by the corporate debtor. Thereafter, the corporate debtor completely stopped payment of
…Commercial lease deed executed between M/s…
Lessee (M/s Carnival Films Private Limited)…