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2022 (11) TMI 104 - Tri - Insolvency and BankruptcyMaintainability of petition - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - Lease rentals - Operational Debt or not - pre-existing dispute or not - HELD THAT:- The issue regarding lease rentals is similar to the issues raised before the five member bench of Hon’ble NCLAT in JAIPUR TRADE EXPOCENTRE PRIVATE LIMITED VERSUS M/S METRO JET AIRWAYS TRAINING PRIVATE LIMITED [2022 (7) TMI 241 - NATIONAL COMPANY LAW APPELLATE TRIBUNAL , PRINCIPAL BENCH , NEW DELHI]; the issue was ‘whether the licensee fee, which is claimed to be due from the Corporate Debtor, is an ‘Operational Debt’ within the meaning of section 5(21) of the Code.?'. Wherein, the Hon’ble NCLAT has held that the claim of Licensor for payment of license fee for use of Demised Premises for business purposes is an ‘Operational Debt’ within the meaning of Section 5(21) of the Code. Pre-existing dispute - HELD THAT:- It is pertinent to mention that as per the records at page 196 of the Petition, the demand notice under section 8 of the Code was delivered to the Corporate Debtor on 29 April, 2019. Whereas, the Corporate Debtor invoke the Arbitration Clause vide letter dated 11 July, 2019, which is way after than the demand notice under section 8 of the Code was delivered to them - The Hon’ble Supreme Court in catena of Judgments has opined that in an Application under Section 9, the Corporate Debtor can point out any ‘Pre- Existing Dispute’ raised prior to the issuance of Demand Notice under Section 8, IBC, 2016. The present petition made by the Operational Creditor is complete in all respects as required by law. The Petition establishes that the Corporate Debtor is in default of a debt due and payable and that the default is more than the minimum amount stipulated under section 4 (1) of the Code, stipulated at the relevant point of time. Further, no disputes were ever raised by the Corporate Debtor. Petition admitted - moratorium declared.
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