Interest Free Security Deposit towards advance license fee is Operational Debt

Vibrus Homes Pvt. Ltd. Vs Ashimara Housing Pvt. Ltd. (NCLAT Delhi)

In his case clause 5 of the Agreement on which learned counsel for the Appellant has given emphasis provides:-

5. That the licensee shall pay a sum of Rs.32,43,000 (Rupees Thirty Two Lacs and Forty Three Thousand) and interest free deposit towards advance license fee and the same will be retained as a security deposit by the licensor till the end of the license period. The security deposit shall be r

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