Ankit Shukla, an Operational Creditor, filed an application against M/S Sanden Vikas (India) Pvt. Ltd., the Corporate Debtor, for initiating the Corporate Insolvency Resolution Process (CIRP) under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Operational Creditor was previously employed by the Corporate Debtor as AGM-R&D and resigned on 04.02.2018. The Operational Creditor claimed outstanding dues of Rs. 13,08,000/-. The Corporate Debtor issued a legal notice to the Operational Creditor claiming damages and loss of Rs. 1,58,00,000/-. The Corporate Debtor also filed a recovery suit against the Operational Creditor, which is pending adjudication.
Ankit Shukla, the applicant, was an employee of M/S Sanden Vikas (India) Pvt. Ltd. and resigned on 04.02.2018. He claimed that the Corporate Debtor owed him Rs. 13,08,000/-. The Corporate Debtor issued a legal notice dated 29.05.2018 to the applicant, claiming damages of Rs. 1,58,00,000/-. The applicant issued a demand notice under Section 8 of the Code on 20.08.2018. The Corporate Debtor filed a civil suit for recovery against the applicant, which is pending adjudication. The Corporate Debtor argued that the applicant had failed to provide a break-up of the alleged debt. The applicant expressed willingness to withdraw the application in an email dated 05.10.2018.
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M/S Sanden Vikas…
Ankit Shukla was…
Ankit Shukla, an Operational Creditor, filed an application against M/S Sanden Vikas (India) Pvt. Ltd., the Corporate Debtor, for initiating the Corporate Insolvency Resolution Process (CIRP) under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Operational Creditor was previously employed by the Corporate Debtor as AGM-R&D and resigned on 04.02.2018. The Operational Creditor claimed outstanding dues of Rs. 13,08,000/-. The Corporate Debtor issued a legal notice to the Operational Creditor claiming damages and loss of Rs. 1,58,00,000/-. The Corporate Debtor also filed a recovery suit against the Operational Creditor, which is pending adjudication.
Ankit Shukla, the applicant, was an employee of M/S Sanden Vikas (India) Pvt. Ltd. and resigned on 04.02.2018. He claimed that the Corporate Debtor owed him Rs. 13,08,000/-. The Corporate Debtor issued a legal notice dated 29.05.2018 to the applicant, claiming damages of Rs. 1,58,00,000/-. The applicant issued a demand notice under Section 8 of the Code on 20.08.2018. The Corporate Debtor filed a civil suit for recovery against the applicant, which is pending adjudication. The Corporate Debtor argued that the applicant had failed to provide a break-up of the alleged debt. The applicant expressed willingness to withdraw the application in an email dated 05.10.2018.
M/S Sanden Vikas…
Ankit Shukla was…