2018 (7) TMI 1840 - Tri - Companies Law

Outstanding payment of wages for 2 months - corporate insolvency process - Held that - As RP submits that whatever fund available is already disbursed to the employees and nothing is left and about to complete the Corporate Insolvency Resolution Process (CIRP) and that the Resolution Plan is under consideration before the Committee of Creditors (COC) on today. Therefore, no purpose would be served on issuing any direction to List it on 05/07/2018 for further consideration. Ld, RP in CP. further submits that the CP(IB) No. 372/KB/2017 to be made over to this Tribunal for consideration with CP(IB) No. 373/KB/2017 as both the matters are similar. However, without an application to simultaneous disposal such a prayer cannot be allowed.

Summary

The National Company Law Tribunal, Kolkata heard a case where wages for 2 months were pending for payment. The Resolution Professional stated that available funds were already disbursed to employees, and the Corporate Insolvency Resolution Process was near completion. The Resolution Plan was under consideration before the Committee of Creditors. The Tribunal did not issue any direction for further consideration. The Resolution Professional requested for two similar matters to be considered together, but this request required a formal application for simultaneous disposal.