The appeal was filed by Kishore K. Lonkar against the order dated 06.09.2021 passed by the National Company Law Tribunal, Mumbai Bench, in C.P. (IB) No.- 1060/MB/2019. The appellant's application under Section 9 of the Insolvency and Bankruptcy Code, 2016, was dismissed by the Adjudicating Authority. The appellant claimed that the respondent company failed to clear the 'Operational Debt' despite serving a demand notice dated 11/02/2019, under Section 8 of the Code. The appellant sought initiation of Corporate Insolvency Resolution Process (CIRP) against the respondent company based on unpaid gratuity, LTC, and EL Encashment.
Kishore K. Lonkar, the appellant, filed an appeal against Hindustan Antibiotics Ltd., the respondent, challenging the dismissal of his application under Section 9 of the Insolvency and Bankruptcy Code, 2016. The appellant claimed that the respondent failed to clear an 'Operational Debt' despite a demand notice dated 11/02/2019. The debt allegedly comprised unpaid gratuity (Rs. 10,00,000/-), EL Encashment (Rs. 6,74,273/-), and LTC (Rs. 6,604/-), totaling Rs. 16,80,877/-. The appellant contended that these dues constitute 'salary' and fall under the definition of 'Operational Debt' under Section 5(21) of the Code. The respondent argued that gratuity disputes should be decided by the Regional Labour Commissioner under Section 14 of the Payment of Gratuity Act, 1972. The
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The appeal was filed by Kishore K. Lonkar against the order dated 06.09.2021 passed by the National Company Law Tribunal, Mumbai Bench, in C.P. (IB) No.- 1060/MB/2019. The appellant's application under Section 9 of the Insolvency and Bankruptcy Code, 2016, was dismissed by the Adjudicating Authority. The appellant claimed that the respondent company failed to clear the 'Operational Debt' despite serving a demand notice dated 11/02/2019, under Section 8 of the Code. The appellant sought initiation of Corporate Insolvency Resolution Process (CIRP) against the respondent company based on unpaid gratuity, LTC, and EL Encashment.
Kishore K. Lonkar, the appellant, filed an appeal against Hindustan Antibiotics Ltd., the respondent, challenging the dismissal of his application under Section 9 of the Insolvency and Bankruptcy Code, 2016. The appellant claimed that the respondent failed to clear an 'Operational Debt' despite a demand notice dated 11/02/2019. The debt allegedly comprised unpaid gratuity (Rs. 10,00,000/-), EL Encashment (Rs. 6,74,273/-), and LTC (Rs. 6,604/-), totaling Rs. 16,80,877/-. The appellant contended that these dues constitute 'salary' and fall under the definition of 'Operational Debt' under Section 5(21) of the Code. The respondent argued that gratuity disputes should be decided by the Regional Labour Commissioner under Section 14 of the Payment of Gratuity Act, 1972. The
…The Insolven…
The Appellant served a Demand Notice to the…