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TMI Blog2019 (5) TMI 1848X X X X Extracts X X X X X X X X Extracts X X X X ..... sion of Code, CIRP would be conducted by IRP/RP with CoC at the helm of affairs of Corporate Debtor, subject to overall superintending powers to be exercised by Adjudicating Authorities. All the decisions of CoC would be taken as per law and those decisions would be binding on Corporate Debtors, employee, all stakeholders etc. as per section 31(1) of the Code. It is settled position of law that even the Adjudicating Authority will have power only to direct CoC to reconsider the grievance of other parties, who are not part of CoC, if it finds that those grievances are required to be re-considered again. Basically all issues/claims arise out of CIRP would be decided basing on liquidation value of Assets and Liabilities of Corporate Debtor. Since the CoC has already reconsidered the claims of the applicant vide CoC Meeting dated 15th April, 2019, I cannot entertain the instant application and it is not maintainable and thus it is liable to be disposed of. - IA NO. 54 OF 2019, C.P. (IB) NO. 136 (BB) OF 2017 - - - Dated:- 10-5-2019 - Rajeswara Rao Vittanala, Judicial Member For the Appellant : L.M Peshwafor For the Respondent : Udayraj Patwardhan and Shreyas Jayasimha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r payment of wages before the appropriate authorities under the Payment of Wages Act, 1936 and also filed a dispute, through the union, on the illegal lock out caused to the workers. The Appropriate Authority under the Payment of wages were pleased to pass an order for the payment of wages of relevant period and the Government also referred the matter for adjudication on the issue of lock out caused to the workers by the Corporate Debtor. The matter concerning the lock out is now pending before the Hon'ble Industrial Tribunal, Mysuru, in reference 243/2015. 4. The Applicant states that the Corporate Debtor failed to comply with the order of the Authorities under the payment of wages act and hence the Applicant had moved the Recovery Authorities for the recovery of amount dues to the workers. But the Corporate Debtor had informed the Recovery Authorities that he had obtained an interim stay on the proceeding for the recovery of dues. The workers were severely affected with such non-payment of wages, the delayed legal proceedings to get their due wages and the continued illegal lock out of the Corporate Debtor. 5. That during pendency of the matter on illegal lock out cause ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the workmen and submitted to the 1st Respondent, are paid to the workmen without linking to any liquidation value etc. 10. The RP has filed a memo dated 21-3-2019, by enclosing copy of the report of the meeting of the representative of workers and employees of Indus Fila Ltd., CoC and Resolution Applicant held on 5-3-2019 at Edelweiss House, Mumbai, Maharashtra By Mr. Udayraj Patwardhan, Resolution Professional. As per the minutes Shri L.Muralidhara Peshwa representative of workers and employees of Indus Fila Ltd. Mr. Peshwa clarified that there are 138 workers and 5 employees. Amongst the five employees, some members were employed as managers. He said wages from 2011-13 remained unpaid as per the order of the Authority under Payment of Wages Act, 1936. Order provided for payment of approximately ₹ 50 lakhs. He said provident fund, gratuity etc. and also remained unpaid. 11. Mr. Peshwa taking note of the Mr. Patwardhan's requests, put forth the following issues: i. ₹ 17,00,000/- towards payment of dues to 138 workmens under the Resolution Plan is insufficient. ii. Resolution Plan should take into consideration the order of the Authority under the Paym ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 8 workmen and none out of the 5 employees. 5. The RP further added that, in the meanwhile, the Resolution applicant vide its e-mail dated March 07, 2019 intimated they offer to pay additional ₹ 17 Lakhs to the workers Beyond Total consideration offered in the Resolution Plan dated January 07, 2019. The extract of the email read as follows: ... The claimed amount by the Labour union is 7.50 crores. Against which we have provided pari passu share of the liquidation value in the resolution plan which works out to approximately 17 lacs. Keeping in mind the request made by the Union and direction given by the Hon'ble Bench to consider as a gesture, we will add 100% of their share in their favour as ex gratia, example: if their share as proposed in the Resolution plan based on Liquidation value comes up to 17 lacs, we will additionally give them 100% of the same that means 17 lacs more (100% of their share as per liquidation value). During the discussions on this agenda item, the RP enquired Mr. Jay Sanghavi, Representative of Resolution Applicant how the Resolution Applicant's presently perceives as to their offer for increment in Total consideration by ..... X X X X Extracts X X X X X X X X Extracts X X X X
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