The case involves a claim by Ms. Edna Braganza, an employee of the corporate debtor, for unpaid performance incentives. The Interim Resolution Professional (IRP) had invited claims, and the corporate debtor submitted employee claims. The Respondent (RP) rejected certain amounts, including the Applicant's claim. The applicant is an employee of the corporate debtor in CP540/2017 and the Chief Operating Officer-API.
Ms. Edna Braganza, an employee and Chief Operating Officer-API of the corporate debtor, filed a claim for unpaid performance incentives. The Respondent (RP) rejected a portion of the claim, specifically Rs.1,80,00,000/- out of a total claim of Rs.2,87,93,354/-, arguing that the disallowed amount was for performance incentives not accounted for in the company's books. The RP contended that the performance incentive was not part of the fixed annual CTC. The applicant's claim was for performance incentives for six financial years, from FY 2010-11 to FY 2016-17. The corporate debtor's finance team confirmed that no specific provisions were created in the books of accounts for the disallowed amounts. The applicant submitted a claim under Form E dated 07.09.2017 for
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Tribunal decl…
Mr.S.Mani submitted a claim in Form E with the…
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The case involves a claim by Ms. Edna Braganza, an employee of the corporate debtor, for unpaid performance incentives. The Interim Resolution Professional (IRP) had invited claims, and the corporate debtor submitted employee claims. The Respondent (RP) rejected certain amounts, including the Applicant's claim. The applicant is an employee of the corporate debtor in CP540/2017 and the Chief Operating Officer-API.
Ms. Edna Braganza, an employee and Chief Operating Officer-API of the corporate debtor, filed a claim for unpaid performance incentives. The Respondent (RP) rejected a portion of the claim, specifically Rs.1,80,00,000/- out of a total claim of Rs.2,87,93,354/-, arguing that the disallowed amount was for performance incentives not accounted for in the company's books. The RP contended that the performance incentive was not part of the fixed annual CTC. The applicant's claim was for performance incentives for six financial years, from FY 2010-11 to FY 2016-17. The corporate debtor's finance team confirmed that no specific provisions were created in the books of accounts for the disallowed amounts. The applicant submitted a claim under Form E dated 07.09.2017 for
…Tribunal decl…
Mr.S.Mani submitted a claim in Form E with the…
Sign in to view related legal provisions.