The case involves an application filed by Arun Kaushal & Anr. (Operational Creditors/Applicants) under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Choudhary Brothers Agri Export Pvt. Ltd. (Corporate Debtor/Respondent). The applicants leased a unit to the corporate debtor for a monthly rent. The corporate debtor defaulted on payments, leading to the application. The corporate debtor raised disputes regarding vacating the premises, payments, and the maintainability of the application under the IBC.
Arun Kaushal & Anr. (Operational Creditors) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Choudhary Brothers Agri Export Pvt. Ltd. (Corporate Debtor). The applicants leased a unit to the corporate debtor for a monthly rent of Rs. 76,505/- for 3 years, starting from 26.04.2017. The Corporate Debtor allegedly defaulted on rent and maintenance payments, leading to a total claim of Rs. 14,21,809.96/- inclusive of interest. The applicants sent a demand notice dated 22.07.2019. The Corporate Debtor replied on 27.07.2019, claiming the premises were vacated on 12.11.2018, and all payments were cleared. The Corporate Debtor also argued that the rent payment does not fall
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Applicants and Respondent entered into a Lease…
The default in payment…
The case involves an application filed by Arun Kaushal & Anr. (Operational Creditors/Applicants) under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Choudhary Brothers Agri Export Pvt. Ltd. (Corporate Debtor/Respondent). The applicants leased a unit to the corporate debtor for a monthly rent. The corporate debtor defaulted on payments, leading to the application. The corporate debtor raised disputes regarding vacating the premises, payments, and the maintainability of the application under the IBC.
Arun Kaushal & Anr. (Operational Creditors) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against Choudhary Brothers Agri Export Pvt. Ltd. (Corporate Debtor). The applicants leased a unit to the corporate debtor for a monthly rent of Rs. 76,505/- for 3 years, starting from 26.04.2017. The Corporate Debtor allegedly defaulted on rent and maintenance payments, leading to a total claim of Rs. 14,21,809.96/- inclusive of interest. The applicants sent a demand notice dated 22.07.2019. The Corporate Debtor replied on 27.07.2019, claiming the premises were vacated on 12.11.2018, and all payments were cleared. The Corporate Debtor also argued that the rent payment does not fall
…Applicants and Respondent entered into a Lease…
The default in payment…