This is a Company Appeal (AT) (Insolvency) No. 112 of 2018 arising out of an order dated January 3, 2018, passed by the Adjudicating Authority (National Company Law Tribunal), Kolkata Bench, Kolkata in Company Petition (IB) No. 701/KB/2017. The appeal was filed by Mr. Suresh Narayan Singh, representing 284 workers of Tayo Rolls Limited, against the rejection of their application under Section 9 of the Insolvency and Bankruptcy Code, 2016 (I&B Code). The application was rejected on the ground that it should have been filed individually by each operational creditor and not jointly.
Mr. Suresh Narayan Singh, representing 284 workers of Tayo Rolls Limited ('Corporate Debtor'), filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 (I&B Code) before the Adjudicating Authority (National Company Law Tribunal), Kolkata Bench, Kolkata. The application was for unpaid wages from October 2016 to October 2017. The Adjudicating Authority rejected the application on the ground that it was filed jointly by the workers and not individually. The workers, as operational creditors, claimed dues exceeding one lakh rupees each. Tayo Rolls Limited had also filed an application under Section 10 of the I&B Code, which was dismissed, and an appeal against that order was pending before the Appellate Tribunal. The Corporate Debtor did not
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This is a Company Appeal (AT) (Insolvency) No. 112 of 2018 arising out of an order dated January 3, 2018, passed by the Adjudicating Authority (National Company Law Tribunal), Kolkata Bench, Kolkata in Company Petition (IB) No. 701/KB/2017. The appeal was filed by Mr. Suresh Narayan Singh, representing 284 workers of Tayo Rolls Limited, against the rejection of their application under Section 9 of the Insolvency and Bankruptcy Code, 2016 (I&B Code). The application was rejected on the ground that it should have been filed individually by each operational creditor and not jointly.
Mr. Suresh Narayan Singh, representing 284 workers of Tayo Rolls Limited ('Corporate Debtor'), filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 (I&B Code) before the Adjudicating Authority (National Company Law Tribunal), Kolkata Bench, Kolkata. The application was for unpaid wages from October 2016 to October 2017. The Adjudicating Authority rejected the application on the ground that it was filed jointly by the workers and not individually. The workers, as operational creditors, claimed dues exceeding one lakh rupees each. Tayo Rolls Limited had also filed an application under Section 10 of the I&B Code, which was dismissed, and an appeal against that order was pending before the Appellate Tribunal. The Corporate Debtor did not
…The Adjudicating Authority (National Company…
The Appellate Tribunal (National Company Law…