The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) by Mr. Baiju Cheriyan, an Operational Creditor, against M/s. Southern Investments Private Limited, the Corporate Debtor, seeking to initiate the Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claims that the Corporate Debtor owes him Rs. 26,68,752. The Corporate Debtor is a private limited company incorporated on 01.04.1998. The Operational Creditor submitted his resignation on 31.07.2017 and was relieved from employment on 30.09.2017. A full and final settlement of Rs. 22,04,333 was approved by the Corporate Debtor's Accounts Department on 17.10.2017, but the amount was not disbursed. The Operational Creditor also filed an application
…Mr. Baiju Cheriyan, the Operational Creditor, was employed by M/s. Southern Investments Private Limited, the Corporate Debtor, as a 'Site Supervisor' starting on 17.08.1992. He was later promoted and transferred to the Chennai Branch on 01.11.2000. He submitted his resignation on 31.07.2017, holding the post of 'Branch Chief Engineer' with a gross pay of Rs. 84,002 per month. His resignation was accepted on 31.07.2017, and he was relieved on 30.09.2017. A full and final settlement of Rs. 22,04,333 was approved by the Accounts Department on 17.10.2017, but the Corporate Debtor did not disburse the amount. The Operational Creditor was not paid salary from January 2017 until his resignation. He filed an application before the Deputy Commissioner of Labour, who ordered the
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Offer Letter issued to…
Operational Creditor…
The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) by Mr. Baiju Cheriyan, an Operational Creditor, against M/s. Southern Investments Private Limited, the Corporate Debtor, seeking to initiate the Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claims that the Corporate Debtor owes him Rs. 26,68,752. The Corporate Debtor is a private limited company incorporated on 01.04.1998. The Operational Creditor submitted his resignation on 31.07.2017 and was relieved from employment on 30.09.2017. A full and final settlement of Rs. 22,04,333 was approved by the Corporate Debtor's Accounts Department on 17.10.2017, but the amount was not disbursed. The Operational Creditor also filed an application
…Mr. Baiju Cheriyan, the Operational Creditor, was employed by M/s. Southern Investments Private Limited, the Corporate Debtor, as a 'Site Supervisor' starting on 17.08.1992. He was later promoted and transferred to the Chennai Branch on 01.11.2000. He submitted his resignation on 31.07.2017, holding the post of 'Branch Chief Engineer' with a gross pay of Rs. 84,002 per month. His resignation was accepted on 31.07.2017, and he was relieved on 30.09.2017. A full and final settlement of Rs. 22,04,333 was approved by the Accounts Department on 17.10.2017, but the Corporate Debtor did not disburse the amount. The Operational Creditor was not paid salary from January 2017 until his resignation. He filed an application before the Deputy Commissioner of Labour, who ordered the
…Offer Letter issued to…
Operational Creditor…