The case involves an appeal against an order dated January 29, 2020, passed by the Adjudicating Authority (National Company Law Tribunal, New Delhi) in C.P.(IB) No. 1972(ND)/2019. The appellant, Akhilesh Kulshrestha, challenged the order. The appeal was initially allowed by the Appellate Tribunal on August 25, 2022, and the case was remanded back to the Adjudicating Authority. The respondent, M/s SAAB India Technologies Private Limited, assailed the order and filed a Civil Appeal before the Supreme Court of India. The Supreme Court remanded the case back to the Appellate Tribunal for reconsideration regarding the appellant's entitlement to emoluments and perks as a Director after relinquishing the position of CFO. The matter was reheard, and the sequence of events
…Akhilesh Kulshrestha was employed by M/s SAAB India Technologies Private Limited as CFO, effective from May 1, 2014, under an employment contract dated March 10, 2014. He was later appointed as an Additional Director on March 11, 2015, and subsequently as a whole-time director on September 29, 2015. His employment as CFO was terminated on March 1, 2019, and he was paid all terminal benefits. Kulshrestha claimed that he continued to work as a director until May 20, 2019, and was entitled to salary and other dues for that period. The company argued that Kulshrestha was not entitled to any additional remuneration as a director and that his termination was valid. A dispute arose regarding the termination and the payment of dues, leading to insolvency proceedings initiated
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The case involves an appeal against an order dated January 29, 2020, passed by the Adjudicating Authority (National Company Law Tribunal, New Delhi) in C.P.(IB) No. 1972(ND)/2019. The appellant, Akhilesh Kulshrestha, challenged the order. The appeal was initially allowed by the Appellate Tribunal on August 25, 2022, and the case was remanded back to the Adjudicating Authority. The respondent, M/s SAAB India Technologies Private Limited, assailed the order and filed a Civil Appeal before the Supreme Court of India. The Supreme Court remanded the case back to the Appellate Tribunal for reconsideration regarding the appellant's entitlement to emoluments and perks as a Director after relinquishing the position of CFO. The matter was reheard, and the sequence of events
…Akhilesh Kulshrestha was employed by M/s SAAB India Technologies Private Limited as CFO, effective from May 1, 2014, under an employment contract dated March 10, 2014. He was later appointed as an Additional Director on March 11, 2015, and subsequently as a whole-time director on September 29, 2015. His employment as CFO was terminated on March 1, 2019, and he was paid all terminal benefits. Kulshrestha claimed that he continued to work as a director until May 20, 2019, and was entitled to salary and other dues for that period. The company argued that Kulshrestha was not entitled to any additional remuneration as a director and that his termination was valid. A dispute arose regarding the termination and the payment of dues, leading to insolvency proceedings initiated
…Date of the employment contract between…
Akhilesh Kulshrestha was appointed as the Chief…