# In the matter of New Kolkata International Development Private Limited C.P. (IB) No. 668-KB-2019

> NCLT judgment dated 2020-03-16. Citation: TCN-2020-NCLT-01514. The case involves an application under Section 9 of the Insolvency and Bankruptcy Code, 2016,…

- **Court:** NCLT
- **Order date:** 16 Mar 2020
- **Citation:** TCN-2020-NCLT-01514
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/new-kolkata-international-development-private-limited-cp-ib-no-668-kb-2019-10a21ea5

## Summary

### Background

The case involves an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, filed by Mr. Prasun Sengupta, an operational creditor, against New Kolkata International Development Private Limited, the corporate debtor. Mr. Sengupta, who was the CEO of the corporate debtor, claimed unpaid dues as per his employment agreement, including salary, bonus, and other benefits. The corporate debtor allegedly failed to pay these dues despite multiple communications and acknowledgements of the debt. The corporate debtor challenged the maintainability of the petition, citing limitation and the authority of the person who signed the application.

## Facts

Mr. Prasun Sengupta, the operational creditor, was the CEO of New Kolkata International Development Private Limited, the corporate debtor. As per the terms of his employment agreement, he was entitled to basic salary, bonus, medical benefits, and other dues. He worked from March 2010 to July 20, 2015, completing a 5-year term. He claimed eligibility for retention bonus, LTA, leave encashment, bonus, and gratuity. On August 7, 2015, the corporate debtor determined the dues owed to the operational creditor and communicated this via email. Despite subsequent emails from the operational creditor, the dues remained unpaid. The corporate debtor challenged the maintainability of the application, citing limitation and the authority of the person who signed the application. The

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## Issues and analysis

### Issue 1: Whether the application filed by the operational creditor is maintainable under Section 9 of the …

**Ratio:** The Insolvency and Bankruptcy Code, 2016, allows operational creditors to initiate the

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**Reasoning:** The court considered the submissions of both parties and found that the operational

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**Interpretation:** Section 9 of the IBC provides a mechanism for operational creditors to recover

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**Application:** The court applied the ratio to the facts of the case, finding that Mr.

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## Parties

- **Judges:** Madan B.…; Virendra Kumar…
- **Appellants:** PRASUN SE…
- **Respondents:** New Kolkata…

## Timeline

- **2010-03-01 — Employment St…**: Mr. Prasun Sengupta started employment with New Kolkata International Development Private…
- **2015-07-20 — Employment E…**: Mr. Prasun Sengupta's employment with New Kolkata International Development Private…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 8 — Insolvency resolution by operational creditor](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-8)

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