NCLAT affirmed the Resolution Professional's calculation of ...

Workers' Salary Claim of Rs.185,62,360 Validated by NCLAT Under Insolvency Resolution Process

April 26, 2025

Case Laws IBC AT

NCLAT affirmed the Resolution Professional's calculation of worker's salary claim at Rs.185,62,360/- for layoff period. The tribunal determined that the Resolution Professional correctly admitted the claim without challenging its quantum. The Adjudicating Authority explicitly noted that determining workers' entitlements under Industrial Dispute Act falls outside its jurisdictional scope. Consequently, no procedural errors were found in the original order, and the appeal was summarily dismissed, upholding the initial claim calculation and maintaining the Resolution Professional's original determination.

View Source

← Previous Next →

NCLAT affirmed the Resolution Professional's calculation of ...

Workers' Salary Claim of Rs.185,62,360 Validated by NCLAT Under Insolvency Resolution Process

April 26, 2025

Case Laws IBC AT

You may also like:

Amendment to rules governing salary, allowances and service conditions of Chairperson and members of Insolvency and Bankruptcy Board of India. Key changes: Chairperson's...

NCLAT dismissed the appeal challenging the rejection of belated additional claims filed by the Appellant-EPFO after the resolution plan's approval. The Tribunal held...

The case pertains to the extinguishment of claims under the Insolvency and Bankruptcy Code (IBC) against Ruchi Soya Industries Limited, after the acceptance of the...

The appeal challenged the maintainability of an application filed u/s 60(5) of the Insolvency and Bankruptcy Code seeking refund of an amount deposited as part of a...

External Commercial Borrowings (ECB) Policy – ECB facility for Resolution Applicants under Corporate Insolvency Resolution Process

The IBBI has issued a notification amending the Insolvency Resolution Process for Corporate Persons Regulations, 2016, specifically modifying Schedule-I, Form H...

The NCLAT dismissed the appeal, holding that the Resolution Plan submitted by the Resolution Applicant did not violate any provisions of law, including Regulation 37(ba)...

NCLAT analyzed the procedural requirements for initiating insolvency resolution process for personal guarantors under the Insolvency and Bankruptcy Code. The Tribunal...

The appellant's claim for Rs. 9.21 crores, arising from the termination of an agreement due to non-renewal of a performance bank guarantee, was not considered by the...

The National Company Law Appellate Tribunal (NCLAT) held that the Resolution Plan must provide for payment of Provident Fund and Gratuity dues in accordance with Section...

The NCLAT dismissed the appeal challenging the approval of the resolution plan by the Committee of Creditors (CoC) and the Adjudicating Authority. The key findings were:...

Once the resolution plan is approved under the Insolvency and Bankruptcy Code, any outstanding claims, including those under the Gujarat Value Added Tax Act for...

Corporate Insolvency Resolution Process - The presence of an arbitration clause in the share purchase agreement would not cause any impediment with regard to initiation...

The NCLAT dismissed the appeal filed by the Appellant challenging the approval of the resolution plan for the Corporate Debtor. The key points are: The Interim...

The NCLAT upheld the challenge process and negotiation process conducted by the Resolution Professional (RP) as per CIRP Regulations and Process Note. It held SRA...

Quick Updates: