https://www.taxtmi.com/caselaws?id=248943 The court held that the claim for the license fee for the remainder of the lock-in period constituted a 'debt' under the Companies Act, 1956. Indiabulls was successful in establishing this claim as an ascertained sum due to them, and Treasure World was ordered to pay the amount immediately. However, the claim for liquidated damages was not considered a debt and required separate adjudication. The court validated the termination of the agreement by Treasure World, upheld the enforceability of the lock-in period clause, and ruled that the duty to mitigate losses did not apply to the claim for the license fee. en-us Fri, 28 Feb 2014 00:00:00 +0530 Mon, 30 Jun 2014 11:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=248943 The court held that the claim for the license fee for the remainder of the lock-in period constituted a 'debt' under the Companies Act, 1956. Indiabulls was successful in establishing this claim as an ascertained sum due to them, and Treasure World was ordered to pay the amount immediately. However, the claim for liquidated damages was not considered a debt and required separate adjudication. The court validated the termination of the agreement by Treasure World, upheld the enforceability of the lock-in period clause, and ruled that the duty to mitigate losses did not apply to the claim for the license fee. Case-Laws Companies Law Fri, 28 Feb 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=248943