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Court restricts CureFoods from promoting movable property

BENGALURU: A business courtroom in Bengaluru has handed an injunction order in opposition to CureFoods, a subsidiary of well being and health startup Curefit, restraining the corporate from promoting any movable property like kitchen gear.

The case was filed by CureFoods’ landlord who moved to courtroom looking for interim protecting measures in opposition to the agency for allegedly withholding hire and failing to honour the lock-in interval within the lease.

Curefoods, which operates the EatFit model, took up workplace premises in Bengaluru for Rs 9.5 lakh a month via a registered lease dated January 27, 2020, with a three-year lock-in. Rent was payable from May 1 after the owner undertook remodelling work to the corporate’s specs. ET has reviewed a replica of the criticism.

The firm had despatched a termination discover claiming that it was unable to do enterprise owing to the Covid-19-induced lockdown. But the owner argued that the meals supply enterprise continues to function, and was additionally deemed a necessary service throughout the nationwide shutdown.

Curefit stated it can’t touch upon a “sub-judice” matter. It, nevertheless, clarified that meals gross sales stay unaffected. “We are not stopping our food sales,” the corporate’s spokesperson stated.

“Ease of doing business requires that contracts are honoured. We welcome the continued protection of contractual rights,” Arjun Rao, Partner at Bhat & Rao, stated.

Earlier this month, Curefit undertook a second spherical of layoffs and furloughs, impacting 600 staff, two months after it laid off over 700 staff.

Aside from shuttering a few of its health centres beneath the CultFit model, the corporate has additionally shut down a variety of its EatFit cloud kitchens. Earlier this 12 months, the startup had raised round Rs 832 crore in a funding spherical led by Temasek, the Singapore government-backed funding firm.

Curefit isn’t alone. Several firms together with Oyo, Paytm, Ola, Swiggy, Zomato, Uber amongst others have reached out to builders to renegotiate pan-India rental agreements, renewal clauses, hire escalations and so on. to cut back long-term fastened asset prices.

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