The National Company Law Tribunal (NCLT), New Delhi bench of Shri Mahendra Khandelwal (Judicial Member) and Shri Atul Chaturvedi (Technical Member) held that when the lease amount is unpaid by the Corporate Debtor it amounts to Operational Debt under the Insolvency & Bankruptcy Code, 2016 (“the Code”).
Background Facts:
M/s Unified Credit Solutions Private Limited (Operational Creditor) had it’s office at 7th Floor, 715, DLF Star Tower, Sector- 30, NH-8, Gurugram, Haryana 122001. In the year 2020, M/s DS Home Construction Pvt. LTD. (Corporate Debtor) approached Operational Creditor for lease of the said Premises for its office use.
Thereafter, a Registered Lease Agreement dated 01.10.2020 was executed between the…
