The appeal was filed under Section 61 of the Insolvency and Bankruptcy Code 2016 by Vishal Sethi (Appellant) against the order dated 02.03.2023 passed by the Adjudicating Authority (National Company Law Tribunal, New Delhi Bench, Court-III) in CP(IB) No.1108/ND/2019. The Adjudicating Authority had dismissed the Section 9 petition filed by the Appellant, who sought to initiate Corporate Insolvency Resolution Proceedings (CIRP) against Collage Group Infrastructure Pvt. Ltd. (Corporate Debtor). The Appellant claimed to be an operational creditor, alleging non-payment of salary dues.
Vishal Sethi (Appellant) claimed to be an operational creditor of Collage Group Infrastructure Pvt. Ltd. (Corporate Debtor). The Appellant was appointed as General Manager of the Corporate Debtor on 10.10.2014. The Corporate Debtor allegedly failed to make timely salary payments from 2015 onwards. The Appellant resigned on 26.01.2016 and sent an email to the Corporate Debtor indicating the balance of his arrear salary. The Corporate Debtor provided a full and final settlement statement admitting an outstanding amount of Rs. 9,28,972/-. The Corporate Debtor made limited part payments, but some cheques were dishonoured. The Appellant sent a Section 8 demand notice on 06.03.2019. A Section 9 IBC application was filed on 30.04.2019 for a default of Rs.9,97,747/-. A
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Vishal Sethi (Appellant) was appointed as…
The Corporate Debtor failed to release timely…
The appeal was filed under Section 61 of the Insolvency and Bankruptcy Code 2016 by Vishal Sethi (Appellant) against the order dated 02.03.2023 passed by the Adjudicating Authority (National Company Law Tribunal, New Delhi Bench, Court-III) in CP(IB) No.1108/ND/2019. The Adjudicating Authority had dismissed the Section 9 petition filed by the Appellant, who sought to initiate Corporate Insolvency Resolution Proceedings (CIRP) against Collage Group Infrastructure Pvt. Ltd. (Corporate Debtor). The Appellant claimed to be an operational creditor, alleging non-payment of salary dues.
Vishal Sethi (Appellant) claimed to be an operational creditor of Collage Group Infrastructure Pvt. Ltd. (Corporate Debtor). The Appellant was appointed as General Manager of the Corporate Debtor on 10.10.2014. The Corporate Debtor allegedly failed to make timely salary payments from 2015 onwards. The Appellant resigned on 26.01.2016 and sent an email to the Corporate Debtor indicating the balance of his arrear salary. The Corporate Debtor provided a full and final settlement statement admitting an outstanding amount of Rs. 9,28,972/-. The Corporate Debtor made limited part payments, but some cheques were dishonoured. The Appellant sent a Section 8 demand notice on 06.03.2019. A Section 9 IBC application was filed on 30.04.2019 for a default of Rs.9,97,747/-. A
…Vishal Sethi (Appellant) was appointed as…
The Corporate Debtor failed to release timely…