The case involves an application filed by Unitech Machines Karmchari Sangh, representing 92 workmen, against Mr. Vivek Raheja, the Resolution Professional (RP) of Unitech Machines Limited. The application was filed under Section 60(5) of the Insolvency and Bankruptcy Code (IBC), 2016, seeking to declare a layoff notice issued by the RP on 01.02.2020 as illegal and arbitrary. The Corporate Insolvency Resolution Process (CIRP) had commenced against Unitech Machines Limited following the admission of an application under Section 7 of the IBC on 01.03.2019. The applicant union had previously moved an application under Section 60(5) seeking directions for the RP to release salaries/wages/statutory dues.
On 01.03.2019, an application under Section 7 of the IBC, 2016, was admitted against Unitech Machines Limited, initiating the Corporate Insolvency Resolution Process (CIRP). On 21.07.2019, the applicant union moved an application under Section 60(5) of the IBC seeking directions to the Resolution Professional (RP) for releasing salaries/wages/statutory dues. The RP had released salaries and dues up to March 2020. On 01.02.2020, the RP issued a layoff notice without clearing legitimate dues and statutory dues. The applicant union contended that the layoff was illegal and in violation of the Industrial Disputes Act, 1947, and the UP Industrial Disputes Act, 1947. The RP argued that the layoff was necessary due to the financial burden on the Corporate Debtor and the
…Sign in to view the parties.
Application filed under Section 7, IBC, 2016…
Applicant Union moved a separate Application…
The case involves an application filed by Unitech Machines Karmchari Sangh, representing 92 workmen, against Mr. Vivek Raheja, the Resolution Professional (RP) of Unitech Machines Limited. The application was filed under Section 60(5) of the Insolvency and Bankruptcy Code (IBC), 2016, seeking to declare a layoff notice issued by the RP on 01.02.2020 as illegal and arbitrary. The Corporate Insolvency Resolution Process (CIRP) had commenced against Unitech Machines Limited following the admission of an application under Section 7 of the IBC on 01.03.2019. The applicant union had previously moved an application under Section 60(5) seeking directions for the RP to release salaries/wages/statutory dues.
On 01.03.2019, an application under Section 7 of the IBC, 2016, was admitted against Unitech Machines Limited, initiating the Corporate Insolvency Resolution Process (CIRP). On 21.07.2019, the applicant union moved an application under Section 60(5) of the IBC seeking directions to the Resolution Professional (RP) for releasing salaries/wages/statutory dues. The RP had released salaries and dues up to March 2020. On 01.02.2020, the RP issued a layoff notice without clearing legitimate dues and statutory dues. The applicant union contended that the layoff was illegal and in violation of the Industrial Disputes Act, 1947, and the UP Industrial Disputes Act, 1947. The RP argued that the layoff was necessary due to the financial burden on the Corporate Debtor and the
…Application filed under Section 7, IBC, 2016…
Applicant Union moved a separate Application…