Alliance Spaces Private Limited, the Operational Creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Maharashtra Bio Fertilisers (India) Pvt. Ltd., the Corporate Debtor, due to unpaid license fees. The default arose from a Leave and License Agreement dated 30.11.2018, where the Corporate Debtor defaulted on payments since June 2020. The Operational Creditor served a demand notice on 03.03.2022, which the Corporate Debtor replied to on 17.03.2022, disputing the liability. The Corporate Debtor also claimed a pre-existing dispute based on a suit filed in the Court of Small Causes, Pune.
Alliance Spaces Private Limited (Operational Creditor) and Maharashtra Bio Fertilisers (India) Pvt. Ltd. (Corporate Debtor) entered into a registered Leave and License Agreement on 30.11.2018 for premises in Pune. The license was for 60 months, from 15.01.2019 to 14.01.2024. The Corporate Debtor defaulted on monthly license fees since June 2020. The Operational Creditor issued a notice on 05.03.2021, stating the default constituted a breach. The Corporate Debtor communicated intent to vacate the premises before 30.09.2021 via email on 06.09.2021. A Statutory Demand Notice was served on 03.03.2022, replied to on 17.03.2022. The Corporate Debtor filed a suit in the Court of Small Causes, Pune, on 24.09.2021 (Suit No. 441/2021), before the demand notice. The Operational
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Alliance Spaces Private Limited and Maharashtra…
The tenure…
Alliance Spaces Private Limited, the Operational Creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Maharashtra Bio Fertilisers (India) Pvt. Ltd., the Corporate Debtor, due to unpaid license fees. The default arose from a Leave and License Agreement dated 30.11.2018, where the Corporate Debtor defaulted on payments since June 2020. The Operational Creditor served a demand notice on 03.03.2022, which the Corporate Debtor replied to on 17.03.2022, disputing the liability. The Corporate Debtor also claimed a pre-existing dispute based on a suit filed in the Court of Small Causes, Pune.
Alliance Spaces Private Limited (Operational Creditor) and Maharashtra Bio Fertilisers (India) Pvt. Ltd. (Corporate Debtor) entered into a registered Leave and License Agreement on 30.11.2018 for premises in Pune. The license was for 60 months, from 15.01.2019 to 14.01.2024. The Corporate Debtor defaulted on monthly license fees since June 2020. The Operational Creditor issued a notice on 05.03.2021, stating the default constituted a breach. The Corporate Debtor communicated intent to vacate the premises before 30.09.2021 via email on 06.09.2021. A Statutory Demand Notice was served on 03.03.2022, replied to on 17.03.2022. The Corporate Debtor filed a suit in the Court of Small Causes, Pune, on 24.09.2021 (Suit No. 441/2021), before the demand notice. The Operational
…Alliance Spaces Private Limited and Maharashtra…
The tenure…