The case involves a petition filed by Pratiksh Pramod Rai, an operational creditor, against Mylaw Learning Resources Pvt. Ltd., the corporate debtor, under Sections 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP). The petitioner, a former employee of the respondent, claims an operational debt of Rs.22,69,127/- consisting of unpaid accumulated salaries and interest. The respondent denies the contentions, asserting the petition is an attempt to disrupt its business. The respondent acknowledged the principal amount and offered a cheque, which the petitioner refused. Settlement talks failed as the petitioner did not agree to the payment terms. The corporate debtor opposed the admission of this petition and
…Pratiksh Pramod Rai, the petitioner, filed a company petition against Mylaw Learning Resources Pvt. Ltd., the respondent, seeking to initiate CIRP under Sections 9 of the IBC. The petitioner claimed an operational debt of Rs.22,69,127/-, comprising unpaid salaries and interest. The petitioner was initially a consultant and later a full-time employee of the respondent, appointed vide an Employee Agreement dated 01.04.2016. The respondent allegedly delayed and defaulted on salary payments from July 2015 to March 2018. The respondent terminated the Employment Agreement on 03.04.2018. The petitioner issued a demand notice on 13.04.2018, which the respondent disputed on 23.04.2018. The respondent offered a settlement and tendered a cheque for Rs. 20,19,970/- on 15.07.2019,
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Petitioner appointed…
Rainmaker Learning…
The case involves a petition filed by Pratiksh Pramod Rai, an operational creditor, against Mylaw Learning Resources Pvt. Ltd., the corporate debtor, under Sections 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP). The petitioner, a former employee of the respondent, claims an operational debt of Rs.22,69,127/- consisting of unpaid accumulated salaries and interest. The respondent denies the contentions, asserting the petition is an attempt to disrupt its business. The respondent acknowledged the principal amount and offered a cheque, which the petitioner refused. Settlement talks failed as the petitioner did not agree to the payment terms. The corporate debtor opposed the admission of this petition and
…Pratiksh Pramod Rai, the petitioner, filed a company petition against Mylaw Learning Resources Pvt. Ltd., the respondent, seeking to initiate CIRP under Sections 9 of the IBC. The petitioner claimed an operational debt of Rs.22,69,127/-, comprising unpaid salaries and interest. The petitioner was initially a consultant and later a full-time employee of the respondent, appointed vide an Employee Agreement dated 01.04.2016. The respondent allegedly delayed and defaulted on salary payments from July 2015 to March 2018. The respondent terminated the Employment Agreement on 03.04.2018. The petitioner issued a demand notice on 13.04.2018, which the respondent disputed on 23.04.2018. The respondent offered a settlement and tendered a cheque for Rs. 20,19,970/- on 15.07.2019,
…Petitioner appointed…
Rainmaker Learning…