2018 (6) TMI 681

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....s, 2016 (for brevity 'the Rules') with a prayer for initiation of Corporate Insolvency Resolution Process in respect of respondent corporate debtor. 2. It is the case of the applicant that the applicant started working on 02.01.2016 in the respondent company as VP Community Building and the monthly salary of applicant was fixed at Rs. 90,000/- p.m. thereafter the applicant was appointed as chief community officer and monthly salary of applicant was increased to Rs. 1,00,000/-. 3. It is submitted that the respondent has not paid salary of applicant for the months of May, August, November, December, 2016 and January, 2017. The respondent corporate debtor has given three cheques for payment of salary of the applicant which returned unpaid wi....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ertificate dated 07.12.2017 issued by the HDFC Bank. 8. Besides in compliance of Section 9(3)(b) of the Code, an affidavit dated 15.12.2017 has also been filed by the applicant operational creditor affirming that no notice is given by the corporate debtor relating to the dispute of the unpaid operational debt. 9. The Respondent Company has filed its reply and raised objection against the application. It is submitted that the applicant was not a permanent employee of the respondent company and had committed various act of misconduct during her term of employment. It is further submitted that the applicant was on probation and is not entitle to claim any dues from the respondent company. Hence, the applicant is not an "operational creditor"....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....esent application is complete and there has been part admission of salary dues and non-payment of the same has caused default by respondent. Therefore, on fulfilment of the requirements of section 9(5)(i)(a) to (d) of the Code, the present application is admitted. 14. A moratorium in terms of section 14 of the Code is being issued prohibiting the following: *  Institution of suits or continuation of pending suits or proceedings against the corporate debtor including execution of any judgment, decree or order in any court of law, tribunal, arbitration panel or other authority; *  transferring, encumbering, alienating or disposing of by the corporate debtor any of its assets or any legal right or beneficial interest therein; ....