This case involves an application filed by Hari Prakash Kaushik, an Operational Creditor (OC), under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC), to initiate Corporate Insolvency Resolution Process (CIRP) against TranzLease Holdings (India) Private Limited, the Corporate Debtor (CD). The OC claims that the CD defaulted on an operational debt of Rs. 1,36,28,033/-. The OC was previously employed by the CD and claims unpaid salary, Fixed Performance Bonus (FPB), and gratuity. The CD acknowledged the dues but expressed inability to pay due to financial difficulties.
Hari Prakash Kaushik, the Operational Creditor (OC), filed an application under Section 9 of the IBC to initiate CIRP against TranzLease Holdings (India) Private Limited, the Corporate Debtor (CD). The OC claimed an operational debt of Rs. 1,36,28,033/-, comprising unpaid salary, Fixed Performance Bonus (FPB), and gratuity for the period from 14.12.2013 to 31.05.2022. The OC was initially appointed as Vice President of the CD on 05.09.2006 and later promoted to President & COO on 14.11.2012. The CD defaulted on paying the FPB starting 14.12.2013. The OC also extended a loan of Rs. 25,00,000/- to the CD, with Rs. 11,73,206/- remaining unpaid. The OC resigned on 30.05.2022 due to the CD's liquidity crises. The OC issued a Demand Notice on 10.06.2022. The CD
…Sign in to view the parties.
Hari Prakash Kaushik…
Hari Prakash Kaushik was promoted as President…
This case involves an application filed by Hari Prakash Kaushik, an Operational Creditor (OC), under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC), to initiate Corporate Insolvency Resolution Process (CIRP) against TranzLease Holdings (India) Private Limited, the Corporate Debtor (CD). The OC claims that the CD defaulted on an operational debt of Rs. 1,36,28,033/-. The OC was previously employed by the CD and claims unpaid salary, Fixed Performance Bonus (FPB), and gratuity. The CD acknowledged the dues but expressed inability to pay due to financial difficulties.
Hari Prakash Kaushik, the Operational Creditor (OC), filed an application under Section 9 of the IBC to initiate CIRP against TranzLease Holdings (India) Private Limited, the Corporate Debtor (CD). The OC claimed an operational debt of Rs. 1,36,28,033/-, comprising unpaid salary, Fixed Performance Bonus (FPB), and gratuity for the period from 14.12.2013 to 31.05.2022. The OC was initially appointed as Vice President of the CD on 05.09.2006 and later promoted to President & COO on 14.11.2012. The CD defaulted on paying the FPB starting 14.12.2013. The OC also extended a loan of Rs. 25,00,000/- to the CD, with Rs. 11,73,206/- remaining unpaid. The OC resigned on 30.05.2022 due to the CD's liquidity crises. The OC issued a Demand Notice on 10.06.2022. The CD
…Hari Prakash Kaushik…
Hari Prakash Kaushik was promoted as President…