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TMI Blog2021 (11) TMI 1027X X X X Extracts X X X X X X X X Extracts X X X X ..... had defaulted an amount of Rs. 3,74,004/-(Rupees Three Lakhs Seventy-Four thousand four only) towards salary of Rs. 1,95,000/- (after deducting PF & IT) for the months from September, 2018 to November, 2018 (3 months) and Provident Fund from March, 2015 to December, 2018 for Rs. 1,79,004/- plus interest@ 18% p.a. The last month from which the amount fell due is from January, 2019. Hence, this petition is filed under Section 9 of Insolvency and Bankruptcy Code, 2016, r/w Rule 6 of Insolvency & Bankruptcy (Application to the Adjudicating Authority) Rules, 2016, seeking admission of the Petition, initiation of Corporate Insolvency Resolution Process, granting moratorium and appointment of Interim Resolution Professional as prescribed under th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he Corporate Debtor replied to the legal notice on 22.06.2019 which is contrary to his own statement. Form-3 Notice was sent on 22.07.2019 and the same was replied by the Corporate Debtor on 09.08.2019, which is shown at page 54 of the application. iv. It is averred that the Corporate Debtor had failed to prove that there exists a pre-existing dispute which is the main provision to be considered under Section 9 of the IBC. Hence, this petition. 3. The averments made in the Reply filed by the Corporate Debtor / Shreyas Holistic Remedies Pvt. Ltd. in brief are described hereunder: i. it is averred that the Corporate Debtor denies all the averments made by the Operational Creditor in the Company Petition as the same are vexatious and fals ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and have never defaulted on compliances. The claim under 1(3) of Part IV and of interest in 1(4) of Part IV of the application is denied for the above stated reasons. v. It is also averred that there is no default by the Corporate Debtor as claimed under Clause 2 of Part IV of the application and the claim of the Operational Creditor about acknowledgement by Corporate Debtor of the default is utterly false and malafide. It is also averred that the documents filed by the Operational Creditor which includes the email correspondence and the replies sent by the staff as well as by the counsel for Corporate Debtor to the claims made by the Operational Creditor evidently establishes the denial of all claims. vi. In reply to Part V of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s emails and other correspondences filed by the Operational Creditor, it is very evident and has unequivocal admissions that the Operational Creditor is guilty of material breach of the conditions mentioned in the appointment letter. a. The Operational Creditor went on a vacation to Bali alongwith other staff of the Corporate Debtor in gross violation of instructions from her superiors and despite her leave being not sanctioned which is in complete violation of the terms and conditions of appointment and a ground for termination of services. b. Many clients of the Corporate Debtor who were availing services at the branch where the Operational Creditor was the CRM Manager an important position of the branch, had abruptly cancelled ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ember, 2018 to January, 2019 as many clients were diverted by the Operational Creditor to the competitors of the Corporate Debtor. It is pertinent to state that all such cancellations are recovered from the concerned employee, a fact also admitted by the Operational Creditor. As such, the Operational Creditor is infact liable to compensate the Corporate Debtor. 4. The Counsel for Applicant filed a Memo dated 11.12.2019 enclosing the Verifying Affidavit filed on behalf of the Petitioner / Applicant, Affidavit of No-Dispute filed on behalf of the Applicant, Computation Sheet of Operational Debt and Affidavit of Ms. A. Chandani. 5. We have heard the Learned Counsel for Operational Creditor and Learned Counsel for Corporate Debtor. The Learne ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... other organisation. The counsel would contend that contrary to such assurances and suppressing what she was legally entitled she was not given even salary for last month of work. 7. The learned counsel for Operational Creditor would also contend that with exchange of emails, the Corporate Debtor have admitted to their liability to pay the salary due amount kept pending on saying since she was a friend with a doctor Ms. Charanya, who allegedly having disputes with the company. The Corporate Debtor paid TDS for the unpaid salary and deducted Provident Fund for the said amounts. 8. We have heard the Counsel for Corporate Debtor. The counsel for Corporate Debtor would contend that the claim of the entire amounts made by the Operational are fa ..... X X X X Extracts X X X X X X X X Extracts X X X X
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