Akhilesh Kulshrestha Vs SAAB India Technologies Private Limited (NCLAT Delhi)
The National Company Law Appellate Tribunal (NCLAT) in Delhi, in the case of Akhilesh Kulshrestha Vs SAAB India Technologies Private Limited, has reiterated that pre-existing disputes arising from employment contracts, particularly concerning emoluments and salaries, cannot be resolved under the Insolvency and Bankruptcy Code (IBC), 2016. The NCLAT held that such matters are contractual in nature and fall outside the purview of the National Company Law Tribunal (NCLT) and NCLAT. In the matter above-mentioned NCLAT have held that pre-existing dispute between the ex-director and its management company, could not have been resolved by the NCLT under the Code.
The present Company Appeal (AT)was filed u/s 61 of the IBC, challenging the order of the Hon’ble National Company Law Tribunal, New Delhi. Earlier the Appeal was allowed by this Appellate Tribunal and the case was remanded back to AA for necessary orders post-admission of the Section 9 Application. The appeal was filed before, before the Hon’ble Supreme Court of India, which remanded the case to this Appellate Tribunal for consideration as to whether after the relinquishment of the position of CFO, the Appellant was entitled to the same emoluments and perks in his capacity as a Director of the Respondent. The Hon’ble Supreme Court directed the parties to reagitate before this Appellate Tribunal with supporting documents.
