The case involves a Company Petition (IB) No. 22/ALD/2018 filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rule, 2016. The operational creditor, Shri Kant, initiated the Corporate Insolvency Resolution Process (CIRP) against the corporate debtor, M/s Juggilal Kamlapat Jute Mills Company Limited (now Geo Jute Limited). The operational creditor was a workman who worked with the corporate debtor as Banbhadni-Mazdoor from 1979 to 2012. The corporate debtor had filed a reference before BIFR in 1994, and entered into a work agreement with the worker's union in 1995, deducting 10% of wages as 'Workers Deposit'. The operational creditor retired and requested payment,
…Shri Kant, the operational creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/s Juggilal Kamlapat Jute Mills Company Limited (now Geo Jute Limited), the corporate debtor. Shri Kant was a workman who worked with the corporate debtor from 1979 to 2012. In 1994, the corporate debtor filed a reference before the Board for Industrial and Financial Reconstruction (BIFR). In 1995, a work agreement was made with the worker's union, deducting 10% of wages as 'Workers Deposit' to be repaid after four years. After retirement, Shri Kant requested payment of gratuity and deposit amounts. He filed P.G Suit No.253/2012 and obtained an award in his favor under the Gratuity Act, 1972. He sent a demand notice dated 28.12.2017 for
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The case involves a Company Petition (IB) No. 22/ALD/2018 filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rule, 2016. The operational creditor, Shri Kant, initiated the Corporate Insolvency Resolution Process (CIRP) against the corporate debtor, M/s Juggilal Kamlapat Jute Mills Company Limited (now Geo Jute Limited). The operational creditor was a workman who worked with the corporate debtor as Banbhadni-Mazdoor from 1979 to 2012. The corporate debtor had filed a reference before BIFR in 1994, and entered into a work agreement with the worker's union in 1995, deducting 10% of wages as 'Workers Deposit'. The operational creditor retired and requested payment,
…Shri Kant, the operational creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against M/s Juggilal Kamlapat Jute Mills Company Limited (now Geo Jute Limited), the corporate debtor. Shri Kant was a workman who worked with the corporate debtor from 1979 to 2012. In 1994, the corporate debtor filed a reference before the Board for Industrial and Financial Reconstruction (BIFR). In 1995, a work agreement was made with the worker's union, deducting 10% of wages as 'Workers Deposit' to be repaid after four years. After retirement, Shri Kant requested payment of gratuity and deposit amounts. He filed P.G Suit No.253/2012 and obtained an award in his favor under the Gratuity Act, 1972. He sent a demand notice dated 28.12.2017 for
…Shri Kant started…
Corporate Debtor filed…
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