The case involves an application filed by Arinjaya Kumar Jain, an operational creditor and employee of M/s. Onkar Electronics Private Limited (the corporate debtor), under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against the corporate debtor due to unpaid salary. The operational creditor claims that the corporate debtor has failed to pay his salary since September 2018, with a total outstanding amount of Rs. 2,00,000/-. Despite repeated requests and a demand notice, the corporate debtor failed to make the payment.
Arinjaya Kumar Jain, the applicant, is an employee of M/s. Onkar Electronics Private Limited, the corporate debtor. He served as Manager-Finance and was entitled to a salary of Rs. 50,000 per month. The corporate debtor failed to pay his salary since September 2018, resulting in an outstanding debt of Rs. 2,00,000. The operational creditor sent a demand notice dated 05.06.2019 under Section 8 of the IBC, 2016, which was duly delivered to the corporate debtor. The corporate debtor acknowledged its liability in its reply to the demand notice. The corporate debtor was incorporated on 23.08.2013 under the Companies Act, 2013. The Tribunal proceeded ex-parte as the corporate debtor did not appear despite service of notice. The operational creditor filed an affidavit stating
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M/s. Onkar Electronics…
The Corporate Debtor stopped paying the salary…
The case involves an application filed by Arinjaya Kumar Jain, an operational creditor and employee of M/s. Onkar Electronics Private Limited (the corporate debtor), under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against the corporate debtor due to unpaid salary. The operational creditor claims that the corporate debtor has failed to pay his salary since September 2018, with a total outstanding amount of Rs. 2,00,000/-. Despite repeated requests and a demand notice, the corporate debtor failed to make the payment.
Arinjaya Kumar Jain, the applicant, is an employee of M/s. Onkar Electronics Private Limited, the corporate debtor. He served as Manager-Finance and was entitled to a salary of Rs. 50,000 per month. The corporate debtor failed to pay his salary since September 2018, resulting in an outstanding debt of Rs. 2,00,000. The operational creditor sent a demand notice dated 05.06.2019 under Section 8 of the IBC, 2016, which was duly delivered to the corporate debtor. The corporate debtor acknowledged its liability in its reply to the demand notice. The corporate debtor was incorporated on 23.08.2013 under the Companies Act, 2013. The Tribunal proceeded ex-parte as the corporate debtor did not appear despite service of notice. The operational creditor filed an affidavit stating
…M/s. Onkar Electronics…
The Corporate Debtor stopped paying the salary…