The case pertains to an application filed under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, by Arun Kumar. K, an operational creditor, against M/s. Bob Tech Solutions Private Limited, the corporate debtor. The operational creditor sought to initiate Corporate Insolvency Resolution Process (CIRP) due to unpaid salary amounting to Rs. 10,06,127/- for the period from January 2018 to August 2019. The corporate debtor admitted to having negative net worth and being unable to pay its debts.
Arun Kumar. K, the operational creditor, was employed by M/s. Bob Tech Solutions Private Limited, the corporate debtor, as Manager-Human Resources, later promoted to Head-Human Resources. His salary was not paid from January 2018 to August 2019, amounting to Rs. 10,06,127/-. The operational creditor issued a demand notice, but received no response. The corporate debtor admitted to having a negative net worth of Rs.-13,44,20,034/- as of 2019-11-30. The corporate debtor also admitted to being unable to pay its liabilities. The corporate debtor's financial difficulties were attributed to losses incurred due to the inability to complete targeted projects in the IT sector. The corporate debtor had availed various loans and overdraft facilities, which it was unable to
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Arun Kumar. K was…
Arun Kumar. K was…
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The case pertains to an application filed under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, by Arun Kumar. K, an operational creditor, against M/s. Bob Tech Solutions Private Limited, the corporate debtor. The operational creditor sought to initiate Corporate Insolvency Resolution Process (CIRP) due to unpaid salary amounting to Rs. 10,06,127/- for the period from January 2018 to August 2019. The corporate debtor admitted to having negative net worth and being unable to pay its debts.
Arun Kumar. K, the operational creditor, was employed by M/s. Bob Tech Solutions Private Limited, the corporate debtor, as Manager-Human Resources, later promoted to Head-Human Resources. His salary was not paid from January 2018 to August 2019, amounting to Rs. 10,06,127/-. The operational creditor issued a demand notice, but received no response. The corporate debtor admitted to having a negative net worth of Rs.-13,44,20,034/- as of 2019-11-30. The corporate debtor also admitted to being unable to pay its liabilities. The corporate debtor's financial difficulties were attributed to losses incurred due to the inability to complete targeted projects in the IT sector. The corporate debtor had availed various loans and overdraft facilities, which it was unable to
…Arun Kumar. K was…
Arun Kumar. K was…
Sign in to view related legal provisions.