TaxTMI 
TaxTMI 
2018 (11) TMI 1103
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....riti Chowdhary, Advocates JUDGMENT SUDHANSU JYOTI MUKHOPADHAYA, J. his appeal has been preferred by 'M/s. Subasri Realty Private Limited'., Shareholder of 'M/s. Aruna Hotels Limited'- ('Corporate Debtor') against the order dated 17th November, 2017 passed by the Adjudicating Authority (National Company Law Tribunal), Division Bench, Chennai, whereby and whereunder the application preferred by the Respondent- Mr. N. Subramanian- ('Operational Creditor') under Section 9 of the Insolvency and Bankruptcy Code, 2016 (hereinafter referred to as "I&B Code') has been admitted, order of 'Moratorium' has been passed and 'Interim Resolution Professional' was appointed with certain directions. 2. ....
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...., Officers colony 1st Street, Plat no 6 Corner Enclave, Rajaram Metha Nagar, Aminjikarni, Chennai-600 029 Sir, Ref: Notice dated 29.06.2017-Reg It is true that you have worked in M/s. Aruna Hotels Limited and retired on 30.06.2013 as Assistant manager. Our records shows that all your salary has been paid then and there without any arrears and our record shows that there is balance of gratuity to a sum of Rs. 5.85,577/- as per the approval dated 06.02.2013 by Erstwhile Managing Director. As per the Erstwhile managing director approved dated 04/02/2013 you received increment salary from 25,000/- to 35,000/- per Month with effect from 01.02.2013. For ARUNA HOTELS LTD. Director No. 141 145 Sterling Road. Nungambakkam. Chen....
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....2013,30.06.2013,31.03.2014 and 30.032014 issued by Mr. M. Sivaram is not authenticated and the same does not establish liability. For ARUNA HOTELS LTCL Director No. 144 145. Sterling Road Nungambakkam. Chennai- 600 034. Ph: 044-3988 4422, Fax: 044-3041 4999. Email: arunahotelmpl@gmail.com. ARUNA HOTELS LIMITED CIN LI5421TN1960PLC004255 Inspite of it, we are inclined to consider your request if you can provide the following details, (a) Your Bank Statement for the years 1.4.1999 to 30.06.2013 (b) Your income tax returns for the above said years. (c) Originals copy of the letter dated 01.02.1998 to check the authenticity. (d) Originals copy of the letter dated 30.09.2006 to check the authenticity. (e) Originals copy of t....
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....d check the authenticity of the documents and revert back. Thank you! Director Director. Enclosure: (I) Letter to Mr. Sivaram dated 05.07.2017 No. 144 145 Sterling Road. Nungambakkam. Chennai- 600 034 Ph: 044-3988 4422. Fax: 044-3041 4999 Email: arunahotelnpl@gmail.com. 6. From the aforesaid letter, it is clear that the Respondent-('Operational Creditor') was working with the 'Corporate Debtor' and retired on 1st February, 2013, when the 'Corporate Debtor' was under the control of erstwhile management. After takeover by present management, on the basis of record the 'Corporate Debtor' intimated the Respondent that nothing was due except the gratuity amount. It was brought to our notice that the....
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....bsp; Yours Faithfully, Copy to :- N. SUBRAMAIAN &nb....
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..... In the present case as we find that there is an 'existence of dispute' about arrears of salary and the Respondent has also failed to explain the delay in making claim of arrears alleged to be done since 1998 to 2016 (delay of about 18 years), we hold that the application under Section 9 preferred by the Respondent was not maintainable. 10. For the reasons aforesaid, we set aside the impugned order dated 17th November, 2017 passed by the Adjudicating Authority in CP/597/(IB)/CB/2017.. 11. In effect, order (s), passed by the Adjudicating Authority appointing 'Resolution Professional', declaring moratorium, freezing of account, and all other order (s) passed by the Adjudicating Authority pursuant to impugned order and actio....