Jayanta Kumar Panja, an ex-employee of Fort Gloster Industries Limited, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of the Corporate Insolvency Resolution Process (CIRP) against Fort Gloster Industries Limited due to default in payment of gratuity amounting to Rs. 1,13,946. The corporate debtor allegedly failed to pay the gratuity despite repeated demands. The operational creditor claimed that the corporate debtor acknowledged the debt but failed to pay, citing inability due to the non-sanctioning of a BIFR Revival Scheme.
Jayanta Kumar Panja, an ex-employee of Fort Gloster Industries Limited, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against the company. The basis for the application was the non-payment of gratuity amounting to Rs. 1,13,946. The applicant claimed to be an operational creditor due to this unpaid gratuity. Fort Gloster Industries Limited acknowledged the debt in a letter dated 03/04/2016 but failed to pay, citing financial difficulties related to the non-sanctioning of a BIFR Revival Scheme. The applicant issued a demand notice dated 06/11/2017, which was received by the corporate debtor. The corporate debtor argued that the application was not maintainable as the applicant
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Fort Gloster Industries Limited acknowledged…
Jayanta Kumar Panja issued a demand notice to…
Jayanta Kumar Panja, an ex-employee of Fort Gloster Industries Limited, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of the Corporate Insolvency Resolution Process (CIRP) against Fort Gloster Industries Limited due to default in payment of gratuity amounting to Rs. 1,13,946. The corporate debtor allegedly failed to pay the gratuity despite repeated demands. The operational creditor claimed that the corporate debtor acknowledged the debt but failed to pay, citing inability due to the non-sanctioning of a BIFR Revival Scheme.
Jayanta Kumar Panja, an ex-employee of Fort Gloster Industries Limited, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against the company. The basis for the application was the non-payment of gratuity amounting to Rs. 1,13,946. The applicant claimed to be an operational creditor due to this unpaid gratuity. Fort Gloster Industries Limited acknowledged the debt in a letter dated 03/04/2016 but failed to pay, citing financial difficulties related to the non-sanctioning of a BIFR Revival Scheme. The applicant issued a demand notice dated 06/11/2017, which was received by the corporate debtor. The corporate debtor argued that the application was not maintainable as the applicant
…Fort Gloster Industries Limited acknowledged…
Jayanta Kumar Panja issued a demand notice to…