LANDSCOPE (MAURITIUS) LTD WINS : Kiddyland [Indian Ocean] & Co Ltd, to be put into receivership

The applicant, Kiddyland [Indian Ocean] & Co Ltd, has not shown that it is willing and able to settle the amount of Rs 3,483,666.29 claimed by the respondent, Landscope [Mauritius] Ltd, if it is allowed time to do so. For this reason, Justice Rehana Mungly-Gulbul, sitting at the Supreme Court (Bankruptcy Division), has on 15th January 2018 dismissed the application and forthwith made an order putting the company into liquidation on the ground that it has been unable to pay its debts as they became due.

“In the ordinary course of business, the company having failed to pay the debt within the specified period. I order that the Acting Official Receiver be appointed as provisional liquidator and that dissolution proceedings be completed by 30 June 2018,” the Judge’s ruling underlined.

The gist of the case is as follows: On 15th April 2016 the respondent (Landscope [Mauritius] Ltd), served a statutory demand upon the applicant (Kiddyland (Indian Ocean) & Co Ltd). It is averred in the statutory demand that the applicant is indebted to the respondent in a liquidated sum of Rs 3,483,666.29 representing outstanding rent and charges due by the applicant to the respondent with respect to premises rented by the respondent and situated at Port Louis Waterfront.

On the 26th April 2016, the applicant has lodged the present application to set aside the said statutory demand. In its affidavit in support of the application, the applicant has averred that it has since 16th July 1998 been renting the premises in lite and has been paying rent and charges. This amount has been constantly reviewed in accordance with prevailing circumstances.

Since November 2014, the applicant has been paying a monthly rent of Rs 40,000, as evidenced by receipts annexed to the affidavit. The applicant has denied being indebted to the respondent inasmuch as all rent due has been paid and settled at the end of each month.