# In the matter of Brick Eagle Group Private Limited C.P.(IB)-1845(MB)-2019

> NCLT judgment dated 2022-05-12. Citation: TCN-2022-NCLT-04818. The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code,…

- **Court:** NCLT
- **Order date:** 12 May 2022
- **Citation:** TCN-2022-NCLT-04818
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-mumbai/brick-eagle-group-private-limited-cpib-1845mb-2019-2f9f8b9f

## Summary

### Background

The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 by Indiabulls Properties Private Limited (Operational Creditor) against Brick Eagle Group Private Limited (Corporate Debtor) for default in repaying ₹3,60,88,598 plus interest.

## Facts

Indiabulls Properties Private Limited (Operational Creditor) filed an application under Section 9 of the IBC against Brick Eagle Group Private Limited (Corporate Debtor).

The Corporate Debtor defaulted in repaying ₹3,60,88,598 plus interest to the Operational Creditor.

The Corporate Debtor entered into a registered leave and license agreement with the Operational Creditor on 03.08.2017.

The Corporate Debtor vacated the premises on 30.06.2018, which was within the lock-in period as per the agreement.

The Operational Creditor issued a Section 8 notice on 23.10.2018 demanding the Corporate Debtor to pay ₹3,52,27,696.

The Corporate Debtor did not reply to the petition and was set ex-parte on 02.05.2022.

…

## Issues and analysis

### Issue 1: Whether dues arising from the 'Leave and Licence …

**Ratio:** The debt and default arising out of

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**Reasoning:** The bench relied on a similar case before the NCLAT, “Anup Sushil Dubey vs. National

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**Interpretation:** The Adjudicating Authority interpreted Section 5 (21) of the IBC to include

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**Application:** The Adjudicating Authority applied the principles established in previous

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## Parties

- **Judges:** P.N. Des…; Shyam Babu…
- **Appellants:** Indiabulls…
- **Respondents:** Brick Eagle Group…
- **Other parties:** Sandeep Jawaharlal…; Anup Sushil Dubey…

## Timeline

- **2017-08-03 — Leave and License…**: Corporate Debtor entered into a registered leave and license agreement with the…
- **2018-06-30 — Premises V…**: The Corporate Debtor…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 5(21) — Definitions](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-5)

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