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 Rs. 1,13,946/- towards gratuity. The applicant claimed this unpaid gratuity constituted an operational debt. The corporate debtor acknowledged the debt on 03/04/2016 but failed to pay, citing financial difficulties and the pending sanction 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 contended that the application was not maintainable as the applicant was not an operational creditor and

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 Rs. 1,13,946/- towards gratuity. The applicant claimed this unpaid gratuity constituted an operational debt. The corporate debtor acknowledged the debt on 03/04/2016 but failed to pay, citing financial difficulties and the pending sanction 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 contended that the application was not maintainable as the applicant was not an operational creditor and