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TMI Blog2018 (6) TMI 681X X X X Extracts X X X X X X X X Extracts X X X X ..... oyment of applicant, and there being default in payment of salary of that period, the application deserves to be admitted on that score alone for triggering Corporate Insolvency Resolution Process against the respondent corporate debtor. We are satisfied that the present application is complete and there has been part admission of salary dues and non-payment of the same has caused default by respondent. Therefore, on fulfilment of the requirements of section 9(5)(i)(a) to (d) of the Code, the present application is admitted. - Company Petition no. (IB)-616(ND)/2017 - - - Dated:- 3-5-2018 - Ms. Ina Malhotra And Ms. Deepa Krishan, JJ. For The Operational Creditor : Mr. Rishab Bansal, Advocate And Mr. Ajay Arjun Sharma, Advocate ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... yer for initiation of Corporate Insolvency Resolution Process in respect of respondent corporate debtor under sub-section (1) of Section 60 of the Code. 5. It is seen that applicant has sent a demand notice to the respondent company under Section 8 of the Code read with Rule 5 of the Rules, in Form 3 on 25.11.2017 enclosing therewith the details of the salaries dues, offer letter, trails of e-mails, copies of said three cheques, including bank statement of applicant s bank (01.01.2016-17.11.2017) pertaining to the bank accounts in which the salary of applicant was stated to be deposited. 6. The present application has been filed under Section 9 of the Code in Form-5 as required under sub-rule (1) of Rule 6 of the Rules, after expiry o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ment, any State Government or any local authority; Operational creditor has also been defined at section 5(20) as follows: Operation Creditor means a person to whom an operational debt is owed and includes any person to whom such debt has been legally assigned or transferred 12. From the definition of Operational creditor and Operational Debt , it can be seen that the applicant being in employment in the respondent company and having provided service to the respondent company clearly comes within the definition of Operational Creditor. Similarly the claim of outstanding salary due to him comes within the definition of Operational Debt. Respondent company having admitted that the applicant was working in the respondent co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... porate debtor. 15. It is further directed that: (a) The supply of essential goods or services to the corporate debtor as may be specified shall not be terminated or suspended or interrupted during moratorium period. (b) The provisions of sub-section (1) of section 14 of the Code shall not apply to such transactions as may be notified by the Central Government in consultation with any financial sector regulator. 16. The Insolvency and Bankruptcy Board of India vide its letter dated 01.01.2018 has recommended a panel of Insolvency Professionals for appointment as Insolvency Resolution Professional in compliance with Section 16(3)(a) of the Code in order to cut delay. The list of recommended Insolvency Professionals provides instan ..... X X X X Extracts X X X X X X X X Extracts X X X X
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