https://www.taxtmi.com/caselaws?id=423473 The Tribunal upheld the decision to treat leave encashment as part of the Corporate Insolvency Resolution Process (CIRP) cost. The claim for compensation for loss of office was denied due to non-alignment with the agreement terms and financial defaults of the Corporate Debtor. The termination of the Appellant was found to be in compliance with the agreement terms and legal requirements. The Tribunal ruled out the applicability of Section 202 of the Companies Act, 2013, for compensation. The Appellant, classified as a related party, was subject to CoC approval for payments. The appeal was dismissed, with no costs awarded. en-us Fri, 03 Jun 2022 00:00:00 +0530 Wed, 08 Jun 2022 08:33:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=423473 The Tribunal upheld the decision to treat leave encashment as part of the Corporate Insolvency Resolution Process (CIRP) cost. The claim for compensation for loss of office was denied due to non-alignment with the agreement terms and financial defaults of the Corporate Debtor. The termination of the Appellant was found to be in compliance with the agreement terms and legal requirements. The Tribunal ruled out the applicability of Section 202 of the Companies Act, 2013, for compensation. The Appellant, classified as a related party, was subject to CoC approval for payments. The appeal was dismissed, with no costs awarded. Case-Laws Insolvency and Bankruptcy Fri, 03 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=423473