Corporate Licensing Dispute: Resolution Professional Validly Terminates Agreement During Insolvency Proceedings Under Statutory Rights

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....NCLAT held that the Appellant was legally obligated to pay license fees as per License and Lease Agreement (LLA), rejecting contentions of mutual expense adjustment. The Adjudicating Authority possessed jurisdiction to decide inter-se disputes, and the Resolution Professional could validly terminate the LLA during moratorium period. The Appellant's arguments regarding expense offset and procedural limitations were deemed legally untenable. The Appellate Tribunal affirmed the lower court's order, emphasizing the Resolution Professional's statutory rights to protect corporate debtor's interests, and consequently dismissed the appeal as lacking substantive merit.....