9911796707
TMI Blog2022 (2) TMI 417X X X X Extracts X X X X X X X X Extracts X X X X ..... Resolution Process against M/s. Desein Pvt. Ltd. (hereinafter, Respondent/Corporate Debtor). 2. As per averments made in the petition, the applicant is an individual employed with the Corporate Debtor from the period between August 2007 till November 2018 at the rank of Senior Engineer Mechanical. It is the case of the applicant that initially he was appointed in the company namely The Indure Private Limited" and was transferred into the corporate debtor vide inter office memo dated 24.04.2018. The applicant has not been paid salary for seven months from April, 2018 to October, 2018. Despite repeated reminders the Corporate Debtor has failed to make payment of legitimate employment dues of the applicant. 3. The applicant issued Demand Not ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lso stated that the said loan taken from respondent has been duly adjusted by applicant in calculation sheet titled as 'advance' attached with the Demand Notice and nothing apart from that is payable by applicant to respondent. b) It is also stated that the respondent itself has issued the service reliving certificate at the time of his resignation, the certificate dated 01.11.2018 indicates that there was no dispute between the parties at the time of his resignation. The applicant also relied upon No dues certificate dated 31.10.2018 in which it is mentioned that Rs. 5699/- was payable by applicant and the same amount was also adjusted in the Demand Notice. 7. We have heard Ld. Counsel for the parties. We have perused the averme ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... once the Operational creditor has filed an application, which is otherwise complete, the adjudicating authority must reject the application under Section 9(5)(2(d) if notice of dispute has been received by the operational creditor or there is a record of dispute in the information utility. It is clear that such notice must bring to the notice of operational creditor the "existence" of a dispute or the fact that a suit or arbitration proceeding relating to a dispute is pending between the parties. Therefore, all that the adjudicating authority is to see at this stage is whether there is a plausible contention which required further investigation and that the "dispute" is not a patently feeble legal argument or an assertion of fact unsupport ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Committee of Creditors, as accounted for by Interim Resolution Professional, and shall be paid back to the Operational Creditor. 15. As a consequence of the application being admitted in terms of Section 9(5) of IBC, 2016, moratorium as envisaged under the provisions of Section 14(1), shall follow in relation to the corporate debtor, prohibiting as per proviso (a) to (d) of the Code. However, during the pendency of the moratorium period, terms of Section 14(2) to 14(4) of the Code shall come in force. 16. A copy of the order shall be communicated to the applicant, Corporate Debtor and IRP above named, by the Registry. In addition, a copy of the order shall also be forwarded to IBBI for its records. Applicant is also directed to provide a ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
