# In the matter of Orchid Pharma Ltd. (Edna Braganza Vs. Ram Kumar) MA-206-IB-2018 in CP-540-IB-2017

> NCLT judgment dated 2018-08-10. Citation: TCN-2018-NCLT-00947. The case involves a claim by Ms. Edna Braganza, an employee of the corporate debtor, for unpaid…

- **Court:** NCLT
- **Order date:** 10 Aug 2018
- **Citation:** TCN-2018-NCLT-00947
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/orchid-pharma-ltd-edna-braganza-vs-ram-kumar-ma-206-ib-2018-in-cp-540-ib-2017-2ff57b77

## Summary

### Background

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.

## Facts

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

…

## Issues and analysis

### Issue 1: Whether the performance incentive claimed by the …

**Ratio:** The legal principle is that if a performance incentive is considered part of the CTC and

…

**Reasoning:** The Tribunal reasoned that the amount claimed by the applicant forms part of the CTC and

…

**Interpretation:** The interpretation is that the 'performance incentive' was essentially a

…

**Application:** The Tribunal applied this reasoning to the specific facts, noting that the

…

## Parties

- **Judges:** K. ANANTHA…; S. VIJAYARA…
- **Appellants:** Ms.Edna Br…
- **Respondents:** M/s. Orchid…; Mr.Ram…

## Timeline

- **2017-08-17 — Moratorium D…**: Tribunal declared a…
- **2017-09-07 — Claim Sub…**: Mr.S.Mani submitted a claim in Form E with the interim resolution professional, Mr.CMA CS…

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-chandigarh/orchid-pharma-ltd-edna-braganza-vs-ram-kumar-ma-206-ib-2018-in-cp-540-ib-2017-2ff57b77