The case pertains to an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) by an Operational Creditor, Mr. Murali Sundaram, against the Corporate Debtor, M/s. Air Carnival Private Limited, for initiation of the Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claimed that the Corporate Debtor defaulted in making payments for remuneration and travel expenses. The Adjudicating Authority (National Company Law Tribunal, Chennai) considered the application and the submissions made by the Operational Creditor.
Mr. Murali Sundaram, the Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/s. Air Carnival Private Limited, the Corporate Debtor. Mr. Sundaram claimed that he was appointed as Director Operation on 2015-12-12 and rendered services to the Corporate Debtor, but the Corporate Debtor failed to pay his remuneration from August 2016, amounting to Rs. 30,00,000. Additionally, Rs. 11,46,628 incurred as travel expenses was not reimbursed. The total amount due as of April 2017 was Rs. 48,41,818 plus interest. The Operational Creditor sent a notice under Section 8 of the I&B Code on 2017-04-21, claiming the outstanding debt, but the Corporate Debtor did not respond. The Operational Creditor filed an affidavit and
…Sign in to view the parties.
Mr. Murali Sundaram was…
The Corporate Debtor failed to pay the…
The case pertains to an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) by an Operational Creditor, Mr. Murali Sundaram, against the Corporate Debtor, M/s. Air Carnival Private Limited, for initiation of the Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claimed that the Corporate Debtor defaulted in making payments for remuneration and travel expenses. The Adjudicating Authority (National Company Law Tribunal, Chennai) considered the application and the submissions made by the Operational Creditor.
Mr. Murali Sundaram, the Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/s. Air Carnival Private Limited, the Corporate Debtor. Mr. Sundaram claimed that he was appointed as Director Operation on 2015-12-12 and rendered services to the Corporate Debtor, but the Corporate Debtor failed to pay his remuneration from August 2016, amounting to Rs. 30,00,000. Additionally, Rs. 11,46,628 incurred as travel expenses was not reimbursed. The total amount due as of April 2017 was Rs. 48,41,818 plus interest. The Operational Creditor sent a notice under Section 8 of the I&B Code on 2017-04-21, claiming the outstanding debt, but the Corporate Debtor did not respond. The Operational Creditor filed an affidavit and
…Mr. Murali Sundaram was…
The Corporate Debtor failed to pay the…