The case involves an interim application (IA No. 1161 of 2020) in a pending First Appeal (No. 1539 of 2012) before the High Court of Judicature at Bombay. The applicant (Rajendra Prasad Bansal), who is the respondent in the First Appeal, seeks to withdraw monies deposited by the appellant (Reliance Communication Limited) in the Trial Court pursuant to a stay order granted by the High Court. The appellant is undergoing Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code (IBC), 2016. The appellant contends that Section 14 of the IBC imposes a moratorium that prevents the withdrawal of the deposited amount. The respondent argues that the moratorium does not apply as the deposited amount is not an asset of the corporate debtor and that
…Rajendra Prasad Bansal, the respondent, was an employee of Reliance Communication Limited, the appellant. The appellant terminated the respondent's employment, leading the respondent to file Special Civil Suit No. 127/2010 in the Trial Court challenging the termination. The Trial Court passed a judgment on June 30, 2012, directing the appellant to pay certain sums to the respondent, including salary, leave encashment, and damages, along with interest. The appellant filed a First Appeal challenging the Trial Court's judgment. As a condition for stay of execution of the impugned judgment, the High Court ordered the appellant to deposit the entire decretal amount with the Trial Court, which the appellant did on December 10, 2012. Subsequently, the respondent filed Interim
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The case involves an interim application (IA No. 1161 of 2020) in a pending First Appeal (No. 1539 of 2012) before the High Court of Judicature at Bombay. The applicant (Rajendra Prasad Bansal), who is the respondent in the First Appeal, seeks to withdraw monies deposited by the appellant (Reliance Communication Limited) in the Trial Court pursuant to a stay order granted by the High Court. The appellant is undergoing Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code (IBC), 2016. The appellant contends that Section 14 of the IBC imposes a moratorium that prevents the withdrawal of the deposited amount. The respondent argues that the moratorium does not apply as the deposited amount is not an asset of the corporate debtor and that
…Rajendra Prasad Bansal, the respondent, was an employee of Reliance Communication Limited, the appellant. The appellant terminated the respondent's employment, leading the respondent to file Special Civil Suit No. 127/2010 in the Trial Court challenging the termination. The Trial Court passed a judgment on June 30, 2012, directing the appellant to pay certain sums to the respondent, including salary, leave encashment, and damages, along with interest. The appellant filed a First Appeal challenging the Trial Court's judgment. As a condition for stay of execution of the impugned judgment, the High Court ordered the appellant to deposit the entire decretal amount with the Trial Court, which the appellant did on December 10, 2012. Subsequently, the respondent filed Interim
…Respondent joined appellant as an employee…
Appellant unil…