https://www.taxtmi.com/caselaws?id=424079 The Company Petition seeking to initiate Corporate Insolvency Resolution Process against the Corporate Debtor was dismissed by the Tribunal. The Tribunal held that the non-payment of rent under a Leave and License Agreement does not constitute Operational Debt under the Insolvency and Bankruptcy Code. Additionally, the existence of a pre-existing dispute between the parties was noted, leading to the inadmissibility of the claim by the Operational Creditor. The Tribunal emphasized the lack of incorporation of provisions for additional space in the agreement and the pending legal proceedings related to the dispute. en-us Thu, 16 Jun 2022 00:00:00 +0530 Wed, 22 Jun 2022 08:10:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=424079 The Company Petition seeking to initiate Corporate Insolvency Resolution Process against the Corporate Debtor was dismissed by the Tribunal. The Tribunal held that the non-payment of rent under a Leave and License Agreement does not constitute Operational Debt under the Insolvency and Bankruptcy Code. Additionally, the existence of a pre-existing dispute between the parties was noted, leading to the inadmissibility of the claim by the Operational Creditor. The Tribunal emphasized the lack of incorporation of provisions for additional space in the agreement and the pending legal proceedings related to the dispute. Case-Laws Insolvency and Bankruptcy Thu, 16 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=424079