TaxTMI 
TaxTMI 
2021 (12) TMI 287
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....ted on 08.10.2013 with CIN U45200DL2013PTC258898 under the provisions of the erstwhile Companies Act, 1956 having its registered Office at F-91/F, 2nd Floor, Dilshad Colony, New Delhi-110095, which comes within the jurisdiction of this Tribunal. 3. That the Authorized Share Capital of the Corporate Debtor is Rs. 1,00,000/- and Paid-up Share Capital is Rs. 1,00,000/- as per the Master Data of the Corporate Debtor. The Corporate Debtor is a company engaged in the business of providing electrical, mechanical & plumbing contracting services to companies and offering operations & maintenance services to industries. 4. That the applicant herein Mr. Mohit Kalkhande was initially appointed as General Manager-LV Systems at the office of corporate debtor w.e.f. 09.06.2014 at an initial salary package of Rs. 23,00,000/- per annum. It has been submitted that subsequently, he was promoted to the post of "Corporate Head - Operations & Projects" at a salary package of Rs. 26,45,000/- per annum. 5. It is added by the Applicant that he had worked diligently and with full integrity and his work was appreciated on numerous occasions. He was entrusted with additional responsibilities also. Ho....
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.... 9. That in spite of repeated requests and emails, the dues of the applicant were not cleared. Hence, the Applicant issued a Legal Notice dated 18.01.2018 seeking arrears of salary and other dues from the Corporate Debtor. That the said notice was served upon the Corporate Debtor but the Corporate Debtor failed to reply to the said notice. Subsequently, the Applicant sent the Demand Notice dated 30.01.2018 under Section 8 of the Code for a total outstanding amount of Rs. 24,46,867/- excluding the PF dues (though deducted from the Applicant's salary but were not deposited with the EPFO). The said notice was served upon the registered office of the Corporate Debtor as per Master data. Despite service, the Corporate Debtor did not reply to the said notice. 10. It is further submitted by the Applicant that again on 04.01.2019, the Applicant sent another Demand Notice under Section 8 of the Code demanding a total outstanding amount of Rs. 25,06,838/- (including Rs. 59,972/- on account of Provident Fund amount deducted as employee's contribution from the applicant's but not deposited with the EPFO). The said Demand Notice was also served upon the registered address office ....
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....ipurpose convertible stadium project at Ahmedabad, an amount of Rs. 14 crore of the corporate debtor is still stuck with the client. Further, due to conduct of the Applicant, a loss of Rs. 30 Lakhs has been incurred by the Corporate Debtor in another project located at Orissa. That the Ledger Accounts of the clients, which were under supervision of the applicant, reflecting recoverable dues and losses has been annexed. c) That the claim of Applicant is false and arbitrary and a sum of Rs. 15 Lakh has been paid in cash to the Applicant, which has been mis-appropriated by him to the accounts of his family and in purchase of property in Rajnagar, Ghaziabad. Hence, nothing is due and payable to the Applicant. 15. From the case record, it is observed that the Applicant vide CA/761/C-II/19 has placed the statement of monthly salary paid to him from June 2014 to April 2017 during the period of employment, the summary of which is given as follows: 16. Further, the Applicant vide CA/1381/C-II/ND/2019 has also placed on record, the additional document being the email dated 10.01.2017 sent by the Accounts Department of Corodex Infrastructure Pvt. Ltd., the Sister Concern of the....
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....s. 1,00,000/-. The same is clearly recorded in the order of this Adjudicating Authority dated 27.01.2021. 22. Since the admission of debt made on part of the Corporate Debtor is for an amount, which is more than Rs. 1,00,000/-, therefore we are of the considered view that the same is sufficient to trigger CIR Process against the Corporate Debtor. 23. In this context, we are further strengthened by the law laid down by the Hon'ble Supreme Court in the matter of "Innoventive Industries Ltd. Vs. ICICI Bank and Ors. - (2018) 1 SCC 407", whereby it is held that: "The scheme of the Code is to ensure that when a default takes place, in the sense that a debt becomes due and is not paid, the insolvency resolution process begins. Default is defined in Section 3(12) in very wide terms as meaning non-payment of a debt once it becomes due and payable, which includes non-payment of even part thereof or an installment, amount. For the meaning of "debt", we have to go to Section 3(11), which in turn tells us that a debt means a liability of obligation in respect of a "claim" and for the meaning of "claim", we have to go back to Section 3(6) which defines "claim" to mean a right ....
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....018-19/11816 (Email: [email protected]) as IRP of the Corporate Debtor, subject to the condition that no disciplinary proceedings are pending against him. This Bench, therefore, directs Mr. Rajesh Mittal to take charge of the CIRP of the Corporate Debtor with immediate effect. The specific consent of the IP in Form-2 of Insolvency and Bankruptcy Board of India (Application to Adjudicating Authority) Rule, 2016 and disclosures as required under IBBI (insolvency Resolution Process for Corporate Persons) Regulations, 2016 shall be filed within 07 days of this order. 27. The Operational Creditor is directed to deposit Rs. 2,00,000/- (Two Lakh) only with the IRP, namely Mr. Rajesh Mittal to meet out the expenses and perform the functions as assigned to him in accordance with Regulation 6 of Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Person) Regulations, 2016. The needful shall be done within one week from the date of receipt of this Order by the Applicant. This amount, however, will be subject to adjustment by the Committee of Creditors, as accounted for by the Interim Resolution Professional and shall be paid back to the Operational Cred....
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....0 6.93000 168 17.00 1.6871700 Feb-15 1.3166710 1605000 L75.617.00 1.930.00 1.7171700 1.33,71700 Mar-15 1.51.66700 1505000 15.617.00 1,7561700 175,617.00 Apr-15 1.50,667.000 160500 175.417.00 1600000 1000000 9.617.00 May 15 191,667.00 16,05000 121100 66,000.00 109517.00 9617.00 109617.00 Jun-15 1,9166700 1605000 17411.00 175,01700 L75,617.00 Jul-15 191.66700 160500 10,000.00 1.65617.00 100000 90,617.00 Aug-15 1.9166700 1605000 1.75.617.00 175,617.00 175,000.00 61700 Sep-15 191.66700 1605000 1.75617.00 25,000.00 150617.00 L0617.00 Od 15 131667 16.050.00 1.75.617.90 25.000.00 150,617.00 150,617.00 Nov-15 1,9166700 16.050.00 1,75,617,00 25,000.00 150,617.00 150,617.00 Dec-15 1,41 56700 1605000 1,75,617.00 25,000.00 150617.00 1,50,617.00 Lan-16 1,9166700 1605000 1,15,617.00 25.000.00 150.617.00 1.50,617.00 Feb-16 1,667.00 16,050.00 1,15,617.00 25.00000 150,617.00 1.50617.00 Mar-16 191,667.00 16,050.00 1,35,617.00 ....