The Corporate Debtor was admitted into Corporate Insolvency Resolution Process (CIRP) vide Order dated 30th May 2017. As no resolution plan was received, an order for liquidation was passed on 23rd March 2018. Certain litigations arose regarding the dues of the employees of the Corporate Debtor, with awards passed by the Competent Labour Authority on 30th September 2020 and recovery certificates issued on 25th May 2021. The liquidator apprised the Assistant Labour Authorities that the Corporate Debtor is under liquidation and claims should be distributed as per Section 53 of the Insolvency & Bankruptcy Code, 2016 (IBC).
The Corporate Debtor was admitted into CIRP on May 30, 2017, and subsequently, liquidation was ordered on March 23, 2018, due to the absence of a resolution plan. Prior to the liquidation, certain litigations were ongoing regarding the dues of the Corporate Debtor's employees. The Competent Labour Authority passed an award on September 30, 2020, and a recovery certificate was issued on May 25, 2021, for these dues. The liquidator informed the Assistant Labour Authorities about the liquidation and the applicability of Section 53 of the IBC. The liquidator then filed an application seeking to nullify the recovery notices issued by the Labour Authority, arguing that they contravened the IBC provisions. The proceedings for recovery of certain sums belonging to the
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Corporate Debtor…
Order for initiation of…
The Corporate Debtor was admitted into Corporate Insolvency Resolution Process (CIRP) vide Order dated 30th May 2017. As no resolution plan was received, an order for liquidation was passed on 23rd March 2018. Certain litigations arose regarding the dues of the employees of the Corporate Debtor, with awards passed by the Competent Labour Authority on 30th September 2020 and recovery certificates issued on 25th May 2021. The liquidator apprised the Assistant Labour Authorities that the Corporate Debtor is under liquidation and claims should be distributed as per Section 53 of the Insolvency & Bankruptcy Code, 2016 (IBC).
The Corporate Debtor was admitted into CIRP on May 30, 2017, and subsequently, liquidation was ordered on March 23, 2018, due to the absence of a resolution plan. Prior to the liquidation, certain litigations were ongoing regarding the dues of the Corporate Debtor's employees. The Competent Labour Authority passed an award on September 30, 2020, and a recovery certificate was issued on May 25, 2021, for these dues. The liquidator informed the Assistant Labour Authorities about the liquidation and the applicability of Section 53 of the IBC. The liquidator then filed an application seeking to nullify the recovery notices issued by the Labour Authority, arguing that they contravened the IBC provisions. The proceedings for recovery of certain sums belonging to the
…Corporate Debtor…
Order for initiation of…