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2024 (8) TMI 1711
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....Kumar Aggarwal, the Appellant therein (now deceased), whereby the Adjudicating Authority has allowed the payment of Rs. 22,61, 661.60/- as an unpaid salary including interest to Mr. Raman Kumar Aggarwal as General Manager of the Corporate Debtor. 2. Heard Counsel for the Parties and perused the records made available including the cited judgements. 3. We note that insolvency petition bearing CP (IB) No. 46/Chd/PB/2018 was filed by the Financial Creditor (Oriental Bank of Commerce) under Section 7 of the Code which was admitted by the Adjudicating Authority and the Corporate Debtor was pushed into CIRP vide order dated 27.07.2018 along with imposition of moratorium under Section 14 of the Code. 4. The Appellant submitted that Suspended Directors and other Key Managerial Personal ('KMP') of the Corporate Debtor i.e., Raman Kumar Aggarwal, Gaurav Aggarwal, Disha Aggarwal and Vijay Pal Singh and Co. withdrew certain amount from the account of the Corporate Debtor during moratorium and as such the Appellant filed CA No. 574 of 2018 under 14(1)(b) r/w Section 4 of the Code seeking the refund of withdrawn amount from the suspended directors and other KMPs of the Corporate Debtor.....
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.... 13. The Appellant also emphasized that the Raman Kumar Aggarwal never claimed the salary and almost after two year of CIRP, that too after the order of Adjudicating Authority dated 18.05.2020 passed in CA No. 574 of 2018 whereby Raman Kumar Aggarwal and other suspended directors were asked to refund the money which they withdrew illegally during moratorium, for the first time wrote a letter to the Appellant on 01.06.2020 claiming outstanding dues which is nothing but a fraud. 14. The Appellant submitted that during his period as Resolution Professional, he had never availed the services of Raman Kumar Aggarwal. 15. It has been brought out that during the pendency of IA No. 378 of 2020, Raman Kumar Aggarwal expired and his legal heirs were impleaded as Applicants who are now Respondents in the present appeal. 16. The Appellant assailed the Impugned Order which has been passed ignoring the vital facts that the letter of appointment of Raman Kumar Aggarwal was a fabricated document and also ignoring the fact that the Appellant as Resolution Professional never availed the services of Raman Kumar Aggarwal and further the Adjudicating Authority failed to take into consideration....
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....Corporate Debtor is in the business of milling of paddy for which personal contacts and personal relationship/ liasoning is very critical and Raman Kumar Aggarwal possessed all these qualities. The Respondents stated that looking to the work and contacts of Raman Kumar Aggarwal, he was appointed as General Manager of the company on 12.07.2018 with a monthly salary of Rs. 90,000/-. 25. The Respondents alleged that the Corporate Debtor never paid any amount to Raman Kumar Aggarwal and after waiting for considerable period of time, Raman Kumar Aggarwal wrote a letter to the Appellant for his outstanding dues which was turned down by the Appellant. Aggrieved by the same, Raman Kumar Aggarwal filed an Interlocutory Application bearing I.A. No. 378 of 2020 for his outstanding salary claim which was allowed by the Adjudicating Authority vide the Impugned Order. 26. The Respondents submitted that the Resolution Professional, if required, could have terminated the services of Raman Kumar Aggarwal which was not done and as such Raman Kumar Aggarwal, is entitled to his salary and to make such payments are within the powers of the Resolution Professional under Section 20(2)(b) of the Cod....
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.... that the Corporate Debtor was admitted into CIRP on 27.07.2018 and Raman Kumar Aggarwal had resigned from the directorship of the Corporate Debtor on 13.06.2018 which was just a few days before the CIRP date. 37. We note the contention of the Appellant that obviously Raman Kumar Aggarwal and the Respondent knew very well about the likely initiation of CIRP and they did all action of appointing Raman Kumar Aggarwal as General Manager of the Corporate Debtor to defraud Corporate Debtor and its other creditors. 38. It is worth noting that in less than one month from resigning from the directorship of the company, Raman Kumar Aggarwal was appointed as General Manager who claimed to have been appointed in the board meeting held on 10.07.2018 on a the monthly salary of Rs. 90,000/-. 39. We note from the submissions that in the director's report (annual report) of the Corporate Debtor, for the relevant year i.e., 2018-19, it has been categorically mentioned in director's report that no board meeting took place during the period. 40. We wonder that when the director's report mentions that no BoD meeting took place they how the BoD meeting was held on 12.07.2018 in which the ap....
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....fessional who was in charge of the management of the Corporate Debtor. The Adjudicating Authority also noted that since appointment letter has not been cancelled by the management as evidenced from the affidavits of the employees therefore there was no justification to deny the outstanding dues of Raman Kumar Aggarwal and based on this finding, IA No. 378 of 2020 was allowed. 45. During the arguments, our attention was drawn to the affidavits filed by Deepti Aggarwal partner of Corporate Debtor enterprises claiming that Raman Kumar Aggarwal has worked for the Corporate Debtor. Similar affidavit has been placed by Parshotam Lal, Lokesh Kumar, Raman Kapoor. 46. The Respondents relied upon four affidavits one by Dipti Aggarwal i.e., Partner of M/s RDA Enterprises and three of his old employees i.e., Parshotam Lal, Lokesh Kumar, and Rakesh Kapoor who certified that Raman Kumar Aggarwal worked during the CIRP period. 47. The Appellant submitted that the alleged affidavits appended by Raman Kumar Aggarwal in support of his contention that he worked during the CIRP period are also false and frivolous and the same was procured from related parties. Deepti Aggarwal is the daughter-....