No Valid Set-Off Based on Unauthorised Correspondence or Fit-Out Delays: NCLAT holds appellant liable to pay licence fee

The NCLAT has ruled that there is "no valid set-off based on unauthorized correspondence or fit-out delays," holding the appellant liable to pay a license fee. The tribunal found that the appellant's claim for a set-off was invalid as the correspondence was not official and the fit-out delays were not a valid reason to withhold payment. This ruling reinforces the contractual obligations of parties during the insolvency process.