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Case Comment on Hon’ ble NCLT Mumbai Bench Holding – ” Claims towards rent do not qualify as Operational Debt under IBC”
The Hon’ble National Company Law Tribunal or NCLT (Mumbai) Bench in M/S Citicare Super Speciality Hospital vs. Vighnaharta Health Visionaries Pvt. Ltd. has held that claims towards outstanding rent do not qualify as “ Operational Debt” as defined under Insolvency and Bankruptcy Code, 2016 ( IBC) and therefore the petition is not maintainable under Section 9 … Continue reading Case Comment on Hon’ ble NCLT Mumbai Bench Holding – ” Claims towards rent do not qualify as Operational Debt under IBC”
Read more »Macquarie Bank Limited vs. Shilpi Cable Technologies
Facts of the Case The Corporate Debtor/Respondent (Uttam Galva Metallics) defaulted in the payment to the Operational Creditor/Appellant (Macquarie Bank) amounting to USD 6,321,337 equivalent to Rs. 43,11,15,190. Although repeated reminders as to the payment of the debt via emails were made, such communications could not influence the Debtor to make the payment, pursuant to … Continue reading Macquarie Bank Limited vs. Shilpi Cable Technologies
Read more »Mobilox Innovations Private limited vs. Kirusa Software Private Limited
The much debated question with respect to the interpretation of what amounts to “existence of a dispute” has been finally answered by the Supreme Court in the (Mobilox vs. Kirusa) judgment. The interpretation of “existence of dispute” was seen in the context of initiation of CIRP of corporate debtors under the Insolvency and Bankruptcy Code, … Continue reading Mobilox Innovations Private limited vs. Kirusa Software Private Limited
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