{"id":270339,"date":"2022-07-19T12:00:18","date_gmt":"2022-07-19T06:30:18","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=270339"},"modified":"2025-05-16T10:04:27","modified_gmt":"2025-05-16T04:34:27","slug":"nclt-sahara-hospitality-to-go-through-corporate-insolvency-process","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2022\/07\/19\/nclt-sahara-hospitality-to-go-through-corporate-insolvency-process\/","title":{"rendered":"NCLT| Sahara Hospitality to go through Corporate Insolvency Process"},"content":{"rendered":"
\n

   <\/p>\n

National Company Law Tribunal, Mumbai<\/span>: The Bench of P.N. Deshmukh, J., Judicial Member, and Shyam Babu Gautam, Technical Member admitted an application filed under Section 9<\/a> of the Insolvency and Bankruptcy Code, 2016<\/a> (IBC) for the initiation of Corporate Insolvency Resolution Process (CIRP) against Sahara Hospitality Ltd. (Sahara). <\/span><\/p>\n

In 2018, a company petition was filed by Delta Electro Mechanical Pvt. Ltd. (Delta Electro)<\/span>, which got disposed of in 2021, when Sahara agreed to settle the matter for Rs 20,00,00,000 in 14 installments. Delta Electro again approached the tribunal seeking the revival of the company petition after Sahara failed to perform the commitment. A new settlement agreement was drawn up. But Sahara failed again with its commitments and tried to shrug off its liabilities stating that it entered into the settlement to maintain good business relations with Delta Electro. Further, it stated that the agreement settlement failed, and hence the company petition was disposed of. Hence, contended that the petition cannot be admitted without a prayer of restoration.<\/p>\n

Hence, Delta Electro filed a company petition seeking to initiate the CIRP against the Sahara by invoking the provisions under Section 9<\/a> of the IBC<\/a> for default of Rs 51,77,97,495\/-.<\/p>\n

The Bench stated that Delta Electro had sent a demand notice dated 25-05-2018 under Section 8<\/a> of the IBC<\/a> for an unpaid amount of Rs. 32,72,03,256\/-. Further, the Bench stated that Sahara in its written submissions dated 24-03-2022 submitted that rental dues or dues under a leave and license agreement cannot be considered an operational debt by relying upon the judgment in Anup Sushil Dubey<\/i> v. National Agriculture Co-operative Marketing Federation of India Ltd.<\/i>, 2020 SCC OnLine NCLAT 674<\/a> , wherein it was held that the subject lease rentals arising out of use and occupation of a cold storage unit which is for Commercial Purpose is an ‘Operational Debt' as under Section 5(21)<\/a> of the IBC<\/a>. <\/span>Therefore, the Bench held that Sahara is liable to pay the dues payable against the facilities extended by Delta Electro.<\/p>\n

Hence, the Bench admitted the Company Petition and ordered to initiate CIRP against Sahara. For the process, Mamta Binani was appointed as the Insolvency Professional.<\/p>\n

[Delta Electro Mechanical Pvt. Ltd. V. Sahara Hospitality Ltd., 2022 SCC OnLine NCLT 216<\/a>, decided on- 15-07-2022<\/span>]<\/p>\n\n

Advocates who appeared in this case :<\/p>\n

Shyam Kapadia, Advocate, for the Applicant;<\/p>\n

Sandeep Bajaj, Advocate, for the Respondent.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

    National Company Law Tribunal, Mumbai: The Bench of P.N. Deshmukh, J., Judicial Member, and Shyam Babu Gautam, Technical Member admitted <\/p>\n","protected":false},"author":67011,"featured_media":268665,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3,11],"tags":[43781,30596,30361,22064,34910,43791,50338,31697],"class_list":["post-270339","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-casebriefs","category-tribunals_commissions_regulatorybodies","tag-cirp","tag-corporate-debtor","tag-ibc","tag-insolvency-and-bankruptcy-code","tag-operational-creditor","tag-operational-debt","tag-sahara-hospitality","tag-settlement-agreement"],"yoast_head":"\nNCLT| Sahara Hospitality to go through Corporate Insolvency Process | SCC Times<\/title>\n<meta name=\"description\" content=\"application filed under Section 9 of the IBC for the initiation of CIRP against Sahara Hospitality Ltd. 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Gurumoorthi filed an application under Section 9\u2026","rel":"","context":"In "Case Briefs"","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":214891,"url":"https:\/\/www.scconline.com\/blog\/post\/2019\/05\/21\/nclat-rejection-of-application-under-s-9-ibc-upheld-where-cirp-initiated-with-fraudulent-and-malicious-intent\/","url_meta":{"origin":270339,"position":2},"title":"NCLAT | Rejection of application under S. 9 IBC upheld where CIRP initiated with ‘fraudulent and malicious’ intent","author":"Bhumika Indulia","date":"May 21, 2019","format":false,"excerpt":"National Company Law Appellate Tribunal (NCLAT): A Bench of S.J. Mukhopadhaya, Chairperson and Justice A.I.S Cheema, Member (Judicial) and Kanthi Narahari, Member (Technical) upheld the impugned decision whereby the appellant's (Operational Creditor's) application under Section 9 of the Insolvency and Bankruptcy Code, 2016, filed against the respondent (Corporate Debtor) was\u2026","rel":"","context":"In "Case Briefs"","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/08\/NCLAT.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":283000,"url":"https:\/\/www.scconline.com\/blog\/post\/2023\/02\/03\/financial-creditor-nclt-corporate-detor-cirp-allowed-appeal-application-condonation-of-delay-nclat-ibc-override-limitation-act-tribunal-no-power-dismissed\/","url_meta":{"origin":270339,"position":3},"title":"NCLAT | IBC overrides Limitation Act; Delay beyond period of 45 days cannot be condoned","author":"Editor","date":"February 3, 2023","format":false,"excerpt":"While adjudicating an appeal file with a delay of 55 days, the Tribunal held that S. 238 IBC overrides S. 12 of the Limitation Act, 1963 and therefore this Tribunal does not have power to condone a delay beyond a period of 45 days.","rel":"","context":"In "Case Briefs"","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"NCLAT","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/12\/MicrosoftTeams-image-395.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":283315,"url":"https:\/\/www.scconline.com\/blog\/post\/2023\/02\/07\/operational-creditor-application-nclat-corporate-insolvency-resolution-process-cirp-mistake-demand-notice-no-prejudice-admitted\/","url_meta":{"origin":270339,"position":4},"title":"NCLT| A mistake in demand notice does not make an application defective unless some prejudice is suffered resulting from such mistake","author":"Editor","date":"February 7, 2023","format":false,"excerpt":"While deciding the present matter dealing with mistake in demand notice, NCLT held that \u201cthe Corporate Debtor has not and would not be prejudiced by fact that Operational Creditor has mentioned the wrong date of default due to its inadvertence.\u201d","rel":"","context":"In "Case Briefs"","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"NCLAT","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/12\/MicrosoftTeams-image-395.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":252536,"url":"https:\/\/www.scconline.com\/blog\/post\/2021\/08\/11\/nclt-rejects-withdrawal-application-under-s-12-a-ibc\/","url_meta":{"origin":270339,"position":5},"title":"NCLT rejects withdrawal application under S. 12-A IBC where corporate debtor entered into settlement only with a fraction of creditors: CIRP against Rolta India Ltd. will continue\u00a0","author":"Bhumika Indulia","date":"August 11, 2021","format":false,"excerpt":"National Company Law Tribunal, NCLT Mumbai: Coram of Suchitra Kanuparthi, Judicial Member and Chandra Bhan Singh, Technical Member, observed that, \u201c\u2026a Judicial authority ought not to pass Orders which would lead to further multiplicity of proceedings.\u201d The instant application was filed by the Operational Creditor who had earlier initiated the\u2026","rel":"","context":"In "Case Briefs"","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"National Company Law Tribunal","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/10\/NCLT.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/10\/NCLT.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/10\/NCLT.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/10\/NCLT.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/10\/NCLT.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]}],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/270339","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/users\/67011"}],"replies":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/comments?post=270339"}],"version-history":[{"count":0,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/270339\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media\/268665"}],"wp:attachment":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media?parent=270339"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/categories?post=270339"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/tags?post=270339"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}