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NATIONAL COMPANY LAW APPELLATE TRIBUNAL
Arun Baroka, Member (Technical)
Samrat Restaurant – Appellant
Versus
Brewcrafts Microbrewing Private Limited – Respondent
| Table of Content |
|---|
| 1. nature of the agreement and default (Para 2 , 3 , 4 , 5) |
| 2. corporate debtor's acknowledgments and responsibilities (Para 19 , 21 , 24) |
| 3. respondent's position on claims and agreements (Para 25 , 26 , 27 , 28 , 29 , 30) |
| 4. tribunal's findings on cirp application viability (Para 44 , 45 , 46 , 48) |
| 5. interpretation of section 10a of the ibc (Para 50 , 51 , 52 , 54 , 56) |
| 6. conclusion on default threshold and appeal dismissal (Para 62 , 63 , 66) |
JUDGMENT
(Hybrid Mode)
[Per: Arun Baroka, Member (Technical)]
The Appellant, M/S Samrat Restaurant, a registered partnership firm, through its Managing Partner, Mr Paramjit Singh Ghai, i.e. the Operational Creditor, against the Impugned Order dated 22.05.2024 passed in Company Petition bearing CP (IB)/483/MB/2023 by the Ld. National Company Law Tribunal, Mumbai Bench, ("Adjudicating Authority") whereby the Ld. Adjudicating Authority dismissed the Application filed by the Appellant, under Section 9 of the Code for initiation of the Corporate Insolvency Resolution Process ("CIRP"), the Appellant herein is constrained to prefer the present Appeal.
Brief facts:
2. The Respondent and the Appellant entered into a leave & license agreemen
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