This appeal challenges an order dated 17.04.2024, issued by the National Company Law Tribunal, Ahmedabad (Adjudicating Authority). The order directed the appellants to contribute Rs. 6,92,679/- along with 12% interest to the GTC Employees, Co-operative Credit Society Ltd. The amount in question represents deductions made from employee salaries by the Corporate Debtor, M/s Golden Tobacco Ltd., for repayment of loans to the Society between September 2021 and May 2022, which were never deposited with the Society. The Insolvency Process for Golden Tobacco Ltd. commenced on 07.06.2022, and Dr. Vichitra Narayan Pathak was appointed as the Interim Resolution Professional, later confirmed as the Resolution Professional.
The appeal challenges an order dated 17.04.2024, passed by the National Company Law Tribunal, Ahmedabad (Adjudicating Authority).
The impugned order directed the appellants to contribute Rs. 6,92,679/- to the GTC Employees, Co-operative Credit Society Ltd. (Society) with 12% interest per annum.
The Insolvency Process against M/s Golden Tobacco Ltd. (Corporate Debtor) was initiated on 07.06.2022.
Dr. Vichitra Narayan Pathak was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP) for Golden Tobacco Ltd.
On 19.07.2022, the Society informed the RP that Rs. 6,33,735/- was deducted from employee salaries for loan repayments between September 2021 and May 2022 but not deposited with the Society.
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Insolvency Process was…
The GTC Employees, Co-operative Credit…
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This appeal challenges an order dated 17.04.2024, issued by the National Company Law Tribunal, Ahmedabad (Adjudicating Authority). The order directed the appellants to contribute Rs. 6,92,679/- along with 12% interest to the GTC Employees, Co-operative Credit Society Ltd. The amount in question represents deductions made from employee salaries by the Corporate Debtor, M/s Golden Tobacco Ltd., for repayment of loans to the Society between September 2021 and May 2022, which were never deposited with the Society. The Insolvency Process for Golden Tobacco Ltd. commenced on 07.06.2022, and Dr. Vichitra Narayan Pathak was appointed as the Interim Resolution Professional, later confirmed as the Resolution Professional.
The appeal challenges an order dated 17.04.2024, passed by the National Company Law Tribunal, Ahmedabad (Adjudicating Authority).
The impugned order directed the appellants to contribute Rs. 6,92,679/- to the GTC Employees, Co-operative Credit Society Ltd. (Society) with 12% interest per annum.
The Insolvency Process against M/s Golden Tobacco Ltd. (Corporate Debtor) was initiated on 07.06.2022.
Dr. Vichitra Narayan Pathak was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP) for Golden Tobacco Ltd.
On 19.07.2022, the Society informed the RP that Rs. 6,33,735/- was deducted from employee salaries for loan repayments between September 2021 and May 2022 but not deposited with the Society.
…Insolvency Process was…
The GTC Employees, Co-operative Credit…
Sign in to view related legal provisions.