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2020 (6) TMI 739 - Tri - Insolvency and BankruptcyMaintainability of application - recovery of salary dues - Operational Creditors - initiation of CIRP - HELD THAT:- It is not in dispute that the Petitioner is an employee having worked with the Corporate Debtor/Respondent, and the salary dues to be payable for him. The instant application is filed with an intention to recover the salary dues and other consequential dues like bonus etc. However, the object of the Code is not to recover the alleged dues, it is meant for initiation of CIRP on justified reasons. There is an Employment Agreement dated 23rd December 13th September, 2013 executed between the Petitioner and the Respondent, wherein Clause '9' says that the Agreement will be governed by the laws of India. For an aggrieved party, knocking at the doors of Judiciary would be last resort. Such party should exhaust alternative remedy available by virtue of Agreement(s) they themselves have voluntarily executed and the terms and conditions in those Agreement(s) would bind them - In the instant case, approaching this Adjudicating Authority is not only the remedy available for the Petitioner as per the terms of agreement. It is a settled position of law that the provisions of the Code cannot be invoked to settle the dispute(s) or to recover the alleged outstanding amount. The mere acceptance of the debt in question by the Respondent would not automatically entitle the Petitioner to invoke the provisions of the Code, unless the debt and default is undisputed and proved it to the satisfaction of the Adjudicating Authority. The Respondent is directed to settle the issue amicable, failing which, the Petitioner is at liberty to invoke the arbitration and the Respondent is directed to participate in such Arbitration, as per law, in order to resolve the issue rather than to aggravate the issue - petition disposed off.
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