The case involves an application filed by Aroon Kumar Aggarwal, an ex-employee of ABC Consultants Private Limited, under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of the Corporate Insolvency Resolution Process (CIRP) against the company. Aggarwal claimed to be an Operational Creditor, asserting that ABC Consultants owed him Rs. 33,42,002/- as unpaid salary, performance bonus, business development bonus, gratuity, and flexible pay basket. ABC Consultants contested the application, alleging that Aggarwal had engaged in fraudulent activities, forgery, and misappropriation of funds during his employment, leading to his termination and the filing of a police FIR against him.
Aroon Kumar Aggarwal, an ex-employee of ABC Consultants Private Limited, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, claiming to be an Operational Creditor. He sought initiation of CIRP against ABC Consultants for an alleged unpaid debt of Rs. 33,42,002/-, comprising salary, bonus, and other employment benefits. Aggarwal's employment agreement was dated June 20, 2003, and he was promoted to Executive Director on April 1, 2014. His services were terminated on August 16, 2016, due to alleged fraudulent activities. ABC Consultants, in response, stated that an internal audit revealed that Aggarwal had engaged in forgery, manipulation, and misappropriation of funds, causing significant losses to the company. The Corporate Debtor also
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Date of the employment…
Aroon Kumar Aggarwal…
The case involves an application filed by Aroon Kumar Aggarwal, an ex-employee of ABC Consultants Private Limited, under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of the Corporate Insolvency Resolution Process (CIRP) against the company. Aggarwal claimed to be an Operational Creditor, asserting that ABC Consultants owed him Rs. 33,42,002/- as unpaid salary, performance bonus, business development bonus, gratuity, and flexible pay basket. ABC Consultants contested the application, alleging that Aggarwal had engaged in fraudulent activities, forgery, and misappropriation of funds during his employment, leading to his termination and the filing of a police FIR against him.
Aroon Kumar Aggarwal, an ex-employee of ABC Consultants Private Limited, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, claiming to be an Operational Creditor. He sought initiation of CIRP against ABC Consultants for an alleged unpaid debt of Rs. 33,42,002/-, comprising salary, bonus, and other employment benefits. Aggarwal's employment agreement was dated June 20, 2003, and he was promoted to Executive Director on April 1, 2014. His services were terminated on August 16, 2016, due to alleged fraudulent activities. ABC Consultants, in response, stated that an internal audit revealed that Aggarwal had engaged in forgery, manipulation, and misappropriation of funds, causing significant losses to the company. The Corporate Debtor also
…Date of the employment…
Aroon Kumar Aggarwal…