The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, seeking initiation of the Corporate Insolvency Resolution Process (CIRP) against the respondent corporate debtor, Tafcon Projects (India) Pvt. Ltd. The applicant, Pooja Kapoor & Other's, claims to be the legal representatives of the deceased Mr. Ajay Kapoor, who was a director of the respondent company. The applicant contends that the respondent company failed to pay the deceased director's remuneration from 01.07.2012 to 31.03.2016, resulting in outstanding dues of Rs. 13,35,570/-.
The applicant, Pooja Kapoor & Other's, representing the legal heirs of the deceased Mr. Ajay Kapoor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of CIRP against Tafcon Projects (India) Pvt. Ltd. Mr. Ajay Kapoor was a director of Tafcon Projects and was entitled to a monthly remuneration of Rs. 25,000/-. The company allegedly failed to pay his remuneration from 01.07.2012 to 31.03.2016, resulting in outstanding dues of Rs. 13,35,570/-. The applicant submitted that the company had not deposited any amount in their bank account since July 1, 2012. The respondent company admitted that Mr. Ajay Kapoor was a director and received remuneration but claimed financial difficulties. The registered office of the
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The Insolvency and Bankruptcy Board of…
Applicant sent a demand notice to the respondent…
The case involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, seeking initiation of the Corporate Insolvency Resolution Process (CIRP) against the respondent corporate debtor, Tafcon Projects (India) Pvt. Ltd. The applicant, Pooja Kapoor & Other's, claims to be the legal representatives of the deceased Mr. Ajay Kapoor, who was a director of the respondent company. The applicant contends that the respondent company failed to pay the deceased director's remuneration from 01.07.2012 to 31.03.2016, resulting in outstanding dues of Rs. 13,35,570/-.
The applicant, Pooja Kapoor & Other's, representing the legal heirs of the deceased Mr. Ajay Kapoor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of CIRP against Tafcon Projects (India) Pvt. Ltd. Mr. Ajay Kapoor was a director of Tafcon Projects and was entitled to a monthly remuneration of Rs. 25,000/-. The company allegedly failed to pay his remuneration from 01.07.2012 to 31.03.2016, resulting in outstanding dues of Rs. 13,35,570/-. The applicant submitted that the company had not deposited any amount in their bank account since July 1, 2012. The respondent company admitted that Mr. Ajay Kapoor was a director and received remuneration but claimed financial difficulties. The registered office of the
…The Insolvency and Bankruptcy Board of…
Applicant sent a demand notice to the respondent…