TaxTMI 
TaxTMI 
2020 (3) TMI 1292
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....ow arrayed through the IRP. 2. In short, the claim of the Operational Creditor before the Adjudicating Authority was that he was appointed Head of Sales and Marketing - Rice Division (Grade - National Sales Head B-1) on a pay scale of Rs. 36,00,000/- per annum, split up of which is with the Appointment Order dated 11th April, 2016 (Annexure A-2 - Page 36 at Page 41). The Operational Creditor claimed to have resigned vide e-mail dated 11th March, 2017 (Annexure A-5 - Page 44). The resignation was accepted vide reply e-mail from the Corporate Debtor dated 4th March, 2017 (Annexure A-6 - Page 46). The Operational Creditor claimed before the Adjudicating Authority that in the Reply e-mail dated 14th March, 2017, the Company had put conditions which were not possible to perform. The Appellant worked out his dues as under:- " Gross salary for March 2017, dues on 10-4-2017 Rs. 2,50,000/- Gross Salary for April 2017 due on 10-5-2017 1,25,000/- Annual performance Incentive due on 10-5-2017 6,00,000/- Liquidated Damages, 3 months basic pay @ 1,00,000/- or part thereof. (Part= Ratio of 14 days short served to 60 days notice period (25 days short served les....
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....he Operational Creditor who had tendered the resignation on 11th March, 2017 walked away before completing 60 days period as required by the service conditions by sending e-mail dated 15th April, 2017 (Annexure A-7 - Page 47). 8. We have heard Counsel for both sides and perused the Appeal and its Reply. 9. One objection raised to the Appeal by the Operational Creditor, is that the Appellant has no authority to file the Appeal as the Appellant is only an employee of the Corporate Debtor. The Appellant has pointed out that the authority was given to him by the Corporate Debtor. The authority is questioned by the Operational Creditor on the basis that it was a decision taken on 14th October, 2019 by Corporate Debtor and the Application under section 9 was admitted on 10th October, 2019. The Order reproduced by us above, shows that on 10th October, 2019, a brief Order was passed without detailing the Judgment. The reasoned Judgment appears to have come only subsequently which the Appellant claims was of 18th October, 2019 which, before us, is not disputed as such by the Operational Creditor. In our view, admission of an Application under section 7, 9 or 10 entails serious trigger....
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....ate Debtor and was given handsome pay which was for a purpose. The Appointment Order (Annexure A-2) shows that if the Operational Creditor wanted to resign, he had to give a notice of 60 days and in default a sum equivalent to 3 months' basic pay was to be given by the employee, by way of liquidated damages which the Company could appropriate against dues payable to the employee. The learned Counsel states that the Corporate Debtor had on 11th January, 2017 sent e-mail (Annexure A-4 - Page 43) to the Operational Creditor and others which is in the nature of "standard operating procedure" relating to Left/Resigned/Terminated Employees' Full and Final Settlement. It was informed that one of the requirements was that for Sales employees, it is mandatory to obtain field NOC from all Superstockists, Dealer distributors towards no payable/receivable transactions. It is stated that the standard operating procedure was required to be issued so as to have security with regard to making full and final payments to employees when they Leave, Resign or are Terminated. The argument is that the Operational Creditor was aware of such operating procedure which was sent to senior officials l....
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.... Sales force & submission of all office assets issued to you to be returned to concerned authorities and only after that the management will then take a call of your relieving from the system." The Operational Creditor replied at 4.05 P.M. as under:- "This reference to my discussions with the management in the afternoon regarding my relieving on 15th April 2017. As per my appointment letter, I need to serve 2 months' notice and as on date I served one month and 5 days. I do have 11 days of PL with me which can be adjusted against my notice period. The difference of 14 days, you may adjust against my basic salaries. As on today, I still need to get March 2017 salary and 1st to 15th April 2017. As it was committed by you and the management, Rs. 6 Lakhs is also pending towards my Variable Pay. Please do my full & final settlement adjusting the notice period difference. If at all I need to pay, I will pay the same to the company without any delay. The clarity was already given to the management regarding during ZSMs meeting on 7th & 8th April 2017. I wish to inform you that I am available on 9619997006 for any further clarification and also assure you and the m....