Arun Kaushal and Niru Kaushal (Operational Creditors) filed an application to initiate CIRP against Choudhary Build Mart Private Limited (Corporate Debtor) under Section 9 of the IBC.

The Operational Creditors claimed a default of Rs. 7,64,472.77/- inclusive of interest, arising from unpaid rent and maintenance charges as per a lease agreement.

The Corporate Debtor contended that the premises were vacated on 12.11.2018, and all payments towards rent and maintenance had been made.

The Corporate Debtor argued that the lease deed required registration under the Stamp Act, 1899, and that the landlord's dues cannot be treated as operational dues.

Arun Kaushal and Niru Kaushal (Operational Creditors) filed an application to initiate CIRP against Choudhary Build Mart Private Limited (Corporate Debtor) under Section 9 of the IBC.

The Operational Creditors claimed a default of Rs. 7,64,472.77/- inclusive of interest, arising from unpaid rent and maintenance charges as per a lease agreement.

The Corporate Debtor contended that the premises were vacated on 12.11.2018, and all payments towards rent and maintenance had been made.

The Corporate Debtor argued that the lease deed required registration under the Stamp Act, 1899, and that the landlord's dues cannot be treated as operational dues.