Jones Lang LaSalle Property Consultants (India) Pvt. Ltd. filed a Company Petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against M A Leasing and Construction Pvt. Ltd. The Operational Creditor claimed an operational debt of Rs. 1,18,00,000/- due as of 30.12.2018, arising from services related to leasing a commercial property. The Corporate Debtor contested the claim, alleging pre-existing disputes and questioning the validity of the invoices and agreements.
Jones Lang LaSalle Property Consultants (India) Pvt. Ltd. (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate CIRP against M A Leasing and Construction Pvt. Ltd. (Corporate Debtor). The Operational Creditor claimed an operational debt of Rs. 1,18,00,000/- as of 30.12.2018, arising from services related to leasing a commercial property known as Elite Cinema. The Corporate Debtor engaged the Operational Creditor for leasing services, and agreements were made with Future Lifestyle Fashions Ltd. and SVF Entertainment Private Limited. The Operational Creditor raised a Fee Confirmation and Revenue Recognition Confirmation Letter for Rs. 1,00,00,000/- plus taxes. The Corporate Debtor received advance amounts related
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The Insolven…
Agreement to Lease executed between the…
Jones Lang LaSalle Property Consultants (India) Pvt. Ltd. filed a Company Petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against M A Leasing and Construction Pvt. Ltd. The Operational Creditor claimed an operational debt of Rs. 1,18,00,000/- due as of 30.12.2018, arising from services related to leasing a commercial property. The Corporate Debtor contested the claim, alleging pre-existing disputes and questioning the validity of the invoices and agreements.
Jones Lang LaSalle Property Consultants (India) Pvt. Ltd. (Operational Creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate CIRP against M A Leasing and Construction Pvt. Ltd. (Corporate Debtor). The Operational Creditor claimed an operational debt of Rs. 1,18,00,000/- as of 30.12.2018, arising from services related to leasing a commercial property known as Elite Cinema. The Corporate Debtor engaged the Operational Creditor for leasing services, and agreements were made with Future Lifestyle Fashions Ltd. and SVF Entertainment Private Limited. The Operational Creditor raised a Fee Confirmation and Revenue Recognition Confirmation Letter for Rs. 1,00,00,000/- plus taxes. The Corporate Debtor received advance amounts related
…The Insolven…
Agreement to Lease executed between the…