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 corporate debtor's default in paying gratuity amounting to Rs. 1,13,946/-. The applicant claimed to be an operational creditor due to the unpaid gratuity. The corporate debtor acknowledged the debt in a letter dated 03/04/2016 but failed to pay, citing its inability due to the non-sanctioning of a BIFR Revival Scheme. The applicant issued a demand notice dated 06/11/2017, which was acknowledged by the corporate debtor. The respondent argued that the application was not maintainable as the applicant was

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 corporate debtor's default in paying gratuity amounting to Rs. 1,13,946/-. The applicant claimed to be an operational creditor due to the unpaid gratuity. The corporate debtor acknowledged the debt in a letter dated 03/04/2016 but failed to pay, citing its inability due to the non-sanctioning of a BIFR Revival Scheme. The applicant issued a demand notice dated 06/11/2017, which was acknowledged by the corporate debtor. The respondent argued that the application was not maintainable as the applicant was