TaxTMI 
TaxTMI 
2021 (2) TMI 881
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....ll closure of the Hospital during May 2019. The reliefs sought are as follows: (i) Set aside Annexure A VII order dated 2/11/2020 issued by the Resolution Professional, Shri. Bijoy P Pulipra, rejecting the applicant's claim in toto. (ii) Issue an order, directing the RP to receive the documents submitted by the Applicant and to take a fresh reasoned decision on his claim under the Regulations 10 and 14 of Insolvency & Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, after hearing the applicant/his counsel also, and also issue a consequential revision in the list of claims published by the RP at the earliest. 2. The brief facts leading to the application is as under: (a) This Tribunal vide order dated 16.10.2019 admitted the IBA/11/KOB/2019 and ordered the Commencement of a Corporate Insolvency Resolution Process of M/s PVS Memorial Hospital Private Limited, Cochin and appointed Shri. Bijoy Pulipara as IRP/RP in the matter. (b) The Resolution Professional (RP) made public announcement through FORM A calling upon all the creditors to submit their claim before 30.10.2019 to him. The Applicant ....
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....ant argued that the RP has simply accepted the false and interested oral statement made by the suspended Managing Director of the Corporate Debtor that the salary of the applicant had been reduced by her retrospectively, arbitrarily and illegally from Rs. 12.05 lakhs to a mere Rs. 1.05 lakhs w.e.f. 01.01.2018. No documents submitted before the RP and this so-called revision said to be made was not even put to the applicant, before this was simply accepted as gospel truth by the RP. Based on such illegal and arbitrary acts, the RP has rejected the entire claims raised by the applicant, without any notice or hearing in absolute violation of law. 6. The Resolution Professional filed a counter and refuted the allegations in the MA stating that the Applicant had deliberately concealed the fact that he is one of the Shareholders of the Corporate Debtor, holding 16,95,000 (Sixteen Lakh Ninety-Five Thousand) Equity Shares of Rs. 10/- (Rupees Ten Only) each, which is 0.75 % of the Total Equity Paid Up Share Capital of the Corporate Debtor, and that he had received the Claim Form from the Applicant on 30.10. 2019 and the said claim was numbered as Claim No PVS/D/306 and the details of the....
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....ion Corporate Persons) Regulations 2016. Hence, the averments in the Applicantion regarding the "Non-Adjudication" of the Claim by the Resolution Professional is not correct. 9. On merit, the Resolution Professional stated that the Applicant had submitted his claim by citing his salary as Rs. 12,05,000/- (Rupees Twelve Lakhs Five Thousand Only) per month from August, 2017 to April, 2019 and claimed the privilege leave, PF and gratuity by taking the said amount as base salary. However, during verification of records, it was found that the salary due entries are not passed in the ledger of Mr. P Jayagovind (applicant) from FY 2017-18 onwards, in the books of the Corporate Debtor. For this purpose, he has relied upon the relevant records of the Corporate Debtor as well as the internal information shared with him while conducting the verification of the claim. Based on the same, he had re-computed the salary and allowances payable to the applicant (claimant) in view of the information available on record, which amounts to Rs. 91,10,085. Also, an amount of Rs. 1,11,08,088/- is shown as paid in advance to Mr. Jayagovind as per the ledger data. The Claim submitted by the Applicant is f....
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....s. 12,05,000/- (Rupees Twelve Lakh Five Thousand Only) per month from August, 2017 to April, 2019 as well as allowances such as privilege leave, PF and gratuity. However, during verification, it was found that the salary due entries are not passed in the ledger of Mr. P Jayagovind from FY 2017-18 onwards. On enquiry, Mrs. Bijimol Joseph, the Accountant of the Corporate Debtor had informed the RP that you were drawing gross salary of Rs. 1,05,000-per month till 313t March, 2016 and were paid an incremented salary of Rs. 12,05000/- (Rupees Twelve Lakh Five Thousand Only) per month with effect from 01April, 2016. However, based on the instruction of Mrs. P V Mini, the suspended Managing Director of the Corporate Debtor, the salary had been revised to the earlier scale of Rs. 1.05.000/- (Rupees One Lakh Five Thousand Only) per month with effect from 01st January, 2018. However, you had submitted the claim for salary from August, 2017 till April, 2019 with the enhanced scale of Rs. 12,05,000/- (Rupees Twelve Lakh Five Thousand Only) per month. The claim on the allowance payable are also calculated by taking the salary as Rs. 12,05,000 (Rupees Twelve Lakh Five Thousand Only) per month. T....