2024 (10) TMI 630 - AT - IBC

Admission of towards salary and leave encashment with interest - HELD THAT - The substantial claim of the Appellant has been admitted in the CIRP, hence, there are no reason to interfere in the impugned order, especially when the Resolution Professional in it reply, has declared about the final admission of the claim of the total Rs.50 Lakhs. Recording the said statement of the Resolution Professional of admission of Rs.50 Lakhs of Principal Amount and interest as well as amount towards salary, this appeal is disposed off. Appeal disposed off.

Summary

The Appellate Tribunal upheld the order passed by the Adjudicating Authority in favor of the Appellant, who had filed a claim of Rs.50 Lakhs principal amount and Rs.48 Lakhs interest. The Resolution Professional admitted the total claim amount of Rs.50 Lakhs and interest, along with Rs.13,48,180 towards salary and leave encashment. The Tribunal found no reason to interfere with the order and disposed of the appeal, directing the Resolution Professional to communicate the final admission of the claim amount to the Appellant.