https://www.taxtmi.com/caselaws?id=302274 The Tribunal dismissed the Company Petition seeking Corporate Insolvency Resolution Process (CIRP) against a government company for non-payment of service benefits. It found that the claimed amount did not qualify as "Operational Debt" under the insolvency code, as service benefits were not essential for the company's continuity. The petitioner had alternative remedies available, including enforcing an order from the gratuity commissioner. The Tribunal emphasized that the petitioner's rejection of the gratuity amount offered by the Corporate Debtor in a previous writ petition was considered his own fault, leading to the dismissal of the petition. en-us Mon, 06 Sep 2021 00:00:00 +0530 Fri, 13 May 2022 07:48:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=302274 The Tribunal dismissed the Company Petition seeking Corporate Insolvency Resolution Process (CIRP) against a government company for non-payment of service benefits. It found that the claimed amount did not qualify as "Operational Debt" under the insolvency code, as service benefits were not essential for the company's continuity. The petitioner had alternative remedies available, including enforcing an order from the gratuity commissioner. The Tribunal emphasized that the petitioner's rejection of the gratuity amount offered by the Corporate Debtor in a previous writ petition was considered his own fault, leading to the dismissal of the petition. Case-Laws Insolvency and Bankruptcy Mon, 06 Sep 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=302274