Ms. K. Nagavalli, an employee of M/s UNICO Leather Product Pvt. Ltd., filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against M/s UNICO Leather Product Pvt. Ltd. The operational creditor claimed unpaid salary, bonus, earned leave wages, notice pay, and gratuity amounting to Rs. 2,74,964. The corporate debtor admitted to the transactions but cited losses due to the COVID-19 pandemic as the reason for non-payment. The Adjudicating Authority considered issues related to the service of demand notice, the existence of a pre-existing dispute, and limitation.
Ms. K. Nagavalli, an employee of M/s UNICO Leather Product Pvt. Ltd., filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against her employer, M/s UNICO Leather Product Pvt. Ltd. She claimed that the corporate debtor failed to pay her full salary for November and December 2017, and completely stopped paying her from January 2018 to June 2018. Additionally, she claimed unpaid bonus, earned leave wages, notice pay, and gratuity. The total amount in default was Rs. 2,74,964, with the date of default being 01.11.2017. A demand notice was issued on 26.11.2019 and received by the corporate debtor on 03.12.2019. The corporate debtor admitted to the transactions but attributed the non-payment
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M/s UNICO Leather…
The corporate debtor…
Ms. K. Nagavalli, an employee of M/s UNICO Leather Product Pvt. Ltd., filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against M/s UNICO Leather Product Pvt. Ltd. The operational creditor claimed unpaid salary, bonus, earned leave wages, notice pay, and gratuity amounting to Rs. 2,74,964. The corporate debtor admitted to the transactions but cited losses due to the COVID-19 pandemic as the reason for non-payment. The Adjudicating Authority considered issues related to the service of demand notice, the existence of a pre-existing dispute, and limitation.
Ms. K. Nagavalli, an employee of M/s UNICO Leather Product Pvt. Ltd., filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against her employer, M/s UNICO Leather Product Pvt. Ltd. She claimed that the corporate debtor failed to pay her full salary for November and December 2017, and completely stopped paying her from January 2018 to June 2018. Additionally, she claimed unpaid bonus, earned leave wages, notice pay, and gratuity. The total amount in default was Rs. 2,74,964, with the date of default being 01.11.2017. A demand notice was issued on 26.11.2019 and received by the corporate debtor on 03.12.2019. The corporate debtor admitted to the transactions but attributed the non-payment
…M/s UNICO Leather…
The corporate debtor…