# In the matter of Shri Akhilesh Kulshrestha
Vs.
Saab India Technologies Pvt. Ltd. Company Appeal (AT) (Insolvency) No. 353 of 2020

> NCLAT judgment dated 2022-08-25. Citation: TCN-2022-NCLAT-00262. The appellant, Akhilesh Kulshrestha, filed an appeal against the order dated 29.1.2020 passed…

- **Court:** NCLAT
- **Order date:** 25 Aug 2022
- **Citation:** TCN-2022-NCLAT-00262
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/shri-akhilesh-kulshrestha-vs-saab-india-technologies-pvt-ltd-company-appeal-715aae40

## Summary

### Background

The appellant, Akhilesh Kulshrestha, filed an appeal against the order dated 29.1.2020 passed by the National Company Law Tribunal (NCLT), New Delhi, which dismissed his insolvency petition. The appellant was initially appointed as CFO of the corporate debtor, Saab India Technologies Pvt. Ltd., on 10.3.2014, and later as an Additional Director in March 2015. Subsequently, he was appointed as a Whole Time Director (WTD) on 28.9.2015, ratified on 29.9.2015. His services as CFO were terminated on 20.3.2019. The appellant filed a Writ Petition WP(C) No. 4407/2019 in the Delhi High Court, fearing removal from the position of WTD, which was dismissed as premature. The appellant claimed he continued to work as WTD until 20.5.2019 but was not paid remuneration for the period

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## Facts

Akhilesh Kulshrestha was appointed as CFO of Saab India Technologies Pvt. Ltd. on 10.3.2014 and later as an Additional Director in March 2015. He was subsequently appointed as a Whole Time Director (WTD) on 28.9.2015, ratified on 29.9.2015. His services as CFO were terminated on 20.3.2019. Kulshrestha filed a Writ Petition WP(C) No. 4407/2019 in the Delhi High Court fearing removal from the WTD position, which was dismissed as premature because the company's counsel admitted he was still a director. Kulshrestha claimed he continued as WTD until 20.5.2019 but was not paid for the period 1.4.2019 to 20.5.2019. The corporate debtor filed Form MR-1 showing Kulshrestha as WTD with a fixed remuneration. The NCLT dismissed Kulshrestha's insolvency petition, leading to the

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## Issues and analysis

### Issue 1: Whether the Adjudicating Authority erroneously inferred the existence of a dispute merely because a …

**Ratio:** The existence of a pre-existing dispute must be a real one, and not a spurious,

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**Reasoning:** The NCLAT found that there was no reference or mention of any dispute in the order

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**Interpretation:** The Adjudicating Authority cannot reject an application under Section 9 of the

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**Application:** In this case, the NCLAT found that the Adjudicating Authority erroneously

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## Parties

- **Judges:** M. Satyanarayana…; Alok Sriv…
- **Appellants:** Akhilesh Kulshrest…
- **Respondents:** Saab India…

## Timeline

- **2014-03-10 — Appointment…**: Akhilesh Kulshrestha was appointed as Chief Financial Officer (CFO) of Saab India…
- **2015-03-01 — Appointment as…**: Akhilesh Kulshrestha was appointed as an Additional Director of Saab India Technologies…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 61 — Appeals and Appellate Authority](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-61)

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