TaxTMI 
TaxTMI 
2021 (3) TMI 301
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....anipulated records submitted by the Corporate Debtor by retrospectively reducing the salary of the applicant from Rs. 12.05 lakhs per month from Rs. 1,05,000/- per month by resorting to illegal reverse audit entry in March 2019 is illegal and unsustainable and that the salary of the employee cannot be reduced unilaterally by retrospective reversal of the entries in the account books at the time of audit conducted more than 15 months thereafter, without notice to and without hearing the employee also. C. An order directing the RP to refix the eligible claim due to the applicant on the basis of his salary of Rs. 12.05 lakhs per month for the months of January 2018 to April 2019 also, and to revise the amounts payable to the leave and gratuity on the basis of his actual salary of Rs. 12.05 lakhs per month, considering his service in the company from 28/8/1996 till April 2019. D. Allowing the applicant to realize the costs of these proceedings from this respondent and his assets. 2. The brief facts leading to the application is as under: a. This Tribunal vide order dated 16.10.2019 admitted IBA/11/KOB/2019 and ordered the Commencement of a Corporate Insolvency Resolution Process ....
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.... Rs. 7,98,200/- (Seven Lakhs Ninety-Eight Thousand Two Hundred), after TDS and the Applicant had also produced the Income Tax Return filed for the Assessment Year 2018-2019, wherein he has disclosed salary received as Rs. 1,11,67,000/- from M/s PVS Memorial Hospital Private Limited as per Form 16. f. The learned counsel for the applicant 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 by the RP. g. In the above circumstances, the applicant filed MA/177/KOB/2020 before this Tribunal and the Tribunal had disposed of that Miscellaneous Application on 14/12/2020, directing the Resolution Professional "to receive the documents requested through his letter dated 2/11/2020 within two weeks from the date of the order" and that if the documents are produced within two weeks, the responden....
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....ents with dubious intentions with a view to frustrate the Corporate Insolvency Resolution Process. It is also stated that the delay in the submission of claim was not due to the reasons beyond the control of the applicant but due to the ignorance of the Applicant and such ignorance cannot be pleaded as a defence to escape from the rigors of law. 4. The applicant was well aware of the fact that the RP had received a Resolution Plan from the Prospective Resolution Applicant and the same was under the active consideration of the Committee of Creditors. The said fact was clearly stipulated in the Order passed by this Tribunal also. The R.P further stated that the applicant was informed that the Respondent will be able to admit/reconsider the claim only till the approval of the Resolution Plan by the Committee of Creditors. 5. It is further stated that as per the salary and allowances ledger account of PVS Memorial Hospital Private Limited ("Corporate Debtor") for the period 01st April, 2017 to 31st March, 2018, an amount of Rs. 33,00,000/- (Rupees Thirty-Three Lakhs Only) was reversed by showing that "being the excess salary provision of Mr. P Jayagovind for the month of January-Marc....
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.... P. V Mini. However, from the records produced by the applicant, it is not clear how the revision of salary was effected as the ledger does not show that such an increase of salary was credited every month to his salary account being the salary for each month. 10. As per the Resolution Professional, 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 by the R.P, it was found that the salary due entries are not shown 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. But, an amount of Rs. 1,11,08,088/- is shown as paid in advance to ....