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2018 (7) TMI 1912 - NATIONAL COMPANY LAW TRIBUNAL, KOLKATA BENCHCorporate insolvency resolution process - outstanding dues - no pre-existing dispute - HELD THAT:- None of the contentions put forward by the Corporate Debtor comes under the purview of section 5(6) of the Code, so as to hold that there is pre-existing dispute so as to reject the claim of this nature. On the other hand, the applicant succeeds in establishing that more than ₹ 1 lakh is due to him from the Corporate Debtor as arrears of salary even if the rate of his salary is reduced to ₹ 84 lakhs per annum. The applicant succeeds in establishing that arrears of salary is due to him from the respondent and that despite demand the respondent failed to repay raising untenable contentions. The applicant also proves that he has complied with all the requirements to be meted out under section 9(5) and filed affidavit under section 9(3)(b) and certificate under section 9(3)(c) is also produced. The application filed by the Operational Creditor under Section 9 of the Insolvency & Bankruptcy Code, 2016 is hereby admitted for initiating the Corporate Resolution Process in respect of Stone India Limited. Moratorium order is passed for a public announcement as stated in Sec.13of the IBC, 2016.
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