The case involves two civil appeals concerning the Corporate Insolvency Resolution Process (CIRP) of Aruna Hotels Ltd. Civil Appeal No. 2901/2021 was filed by D. Ramjee, an ex-employee of the Corporate Debtor, challenging the resolution passed by the Committee of Creditors (CoC) to withdraw CIRP and the subsequent orders by NCLT. Civil Appeal No. 1792/2021 was filed by K.N. Rajakumar, a suspended Director of the Corporate Debtor, challenging the NCLAT's dismissal of his appeal against NCLT's order to convene a CoC meeting. The Corporate Debtor was incorporated in 1960 and faced financial difficulties, leading to CIRP initiation based on D. Ramjee's application under Section 9 of the IBC due to unpaid salary dues. NCLAT initially set aside the CIRP order based on the
…The Corporate Debtor, Aruna Hotels Ltd., incorporated in 1960, faced financial difficulties. D. Ramjee, an ex-employee, joined in 1964 and retired in 2013 after 49 years of service. He sought settlement of salary dues. In 2015, Subasri Realty Limited took over the management. On 2017-02-27, Ramjee issued a demand notice for outstanding salary of Rs.2,60,68,883/-. On 2017-04-03, Ramjee filed an application under Section 9 of the IBC. Two other employees also filed applications under Section 9. On 2017-06-13, NCLT admitted Ramjee's application and initiated CIRP. P. Sriram was appointed as interim RP. The Corporate Debtor appealed to NCLAT, which allowed the appeal on 2017-08-02, setting aside the CIRP order. The Corporate Debtor assured NCLAT to pay three years'
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The case involves two civil appeals concerning the Corporate Insolvency Resolution Process (CIRP) of Aruna Hotels Ltd. Civil Appeal No. 2901/2021 was filed by D. Ramjee, an ex-employee of the Corporate Debtor, challenging the resolution passed by the Committee of Creditors (CoC) to withdraw CIRP and the subsequent orders by NCLT. Civil Appeal No. 1792/2021 was filed by K.N. Rajakumar, a suspended Director of the Corporate Debtor, challenging the NCLAT's dismissal of his appeal against NCLT's order to convene a CoC meeting. The Corporate Debtor was incorporated in 1960 and faced financial difficulties, leading to CIRP initiation based on D. Ramjee's application under Section 9 of the IBC due to unpaid salary dues. NCLAT initially set aside the CIRP order based on the
…The Corporate Debtor, Aruna Hotels Ltd., incorporated in 1960, faced financial difficulties. D. Ramjee, an ex-employee, joined in 1964 and retired in 2013 after 49 years of service. He sought settlement of salary dues. In 2015, Subasri Realty Limited took over the management. On 2017-02-27, Ramjee issued a demand notice for outstanding salary of Rs.2,60,68,883/-. On 2017-04-03, Ramjee filed an application under Section 9 of the IBC. Two other employees also filed applications under Section 9. On 2017-06-13, NCLT admitted Ramjee's application and initiated CIRP. P. Sriram was appointed as interim RP. The Corporate Debtor appealed to NCLAT, which allowed the appeal on 2017-08-02, setting aside the CIRP order. The Corporate Debtor assured NCLAT to pay three years'
…Aruna Hotels Ltd. was…
D. Ramjee joined the…