2018 (10) TMI 1683

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.... that the Corporate Debtor be directed to remain as "going concern" so that the dues to the Employees/ Workers be disbursed as per law. 2. Ld. Counsel presenting this Application has informed that the Corporate Debtor is a national operator of pan-India 2G License and 3G License holder in 13 Circles with a monthly revenue of approximately Rs. 850 crores in July, 2017. The Company had 85 million (approximate) customers, more significantly in Tamilnadu, North-East and Jammu & Kashmir Circles. The Debtor Company through its own Network of Telecom infrastructure is providing direct services to the customers. 3. An allegation is raised in this Application that in spite of commanding huge market in this business of Telecom Service Provider, the....

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...., as regards the dues of Employees, about 125 crores stated to be outstanding, no communication or confirmation was received by these Employees from the Resolution Professional. It has created mis trust among the Employees. 6. Hence the request is that Committee of Creditors must intimate the progress to the Association of Employees and maintain transparency in the ongoing CIRP proceedings. The Resolution Professional is also expected to retain the assets of the Debtor Company as well as the "spectrum" allotted so that the Company can run Telecom business. 7. This Miscellaneous Application has been communicated to the ld. Senior Advocate of the Debtor Company who has assured that the interest of the Employees as an important stakeholder h....