Liberium Global Resources Private Limited Vs Amritsar MSW Limited (NCLT Delhi)
NCLT Delhi held that application u/s. 9 of Insolvency and Bankruptcy Code, 2016 for initiating CIRP against corporate debtor admitted as Operational Creditor satisfied all the required criteria and no pre-existing dispute was present in relation to payment of revised wages by the Corporate Debtor.
Facts- This is a Company Petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 (‘the Code’) read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 by M/s. Liberium Global Resources Private Limited (‘Operational Creditor’) is duly authorized for initiation of Corporate Insolvency Resolution Process (‘CIRP’) against M/s. Amritsar MSW Limited (‘Corporate Debtor’).
Conclusion- Held that the Corporate Debtor vide emails dated 20.12.2021 and 22.12.2021 had acknowledged revision in the wages and told the Applicant to proceed with the revised wage structure by adjusting it with the credit amount of November 2021 invoice. Thus, the Corporate Debtor had made payment of invoice for December 2021, having revised wages, in-full. Further, the Corporate Debtor also never raised any dispute relating to the quality of services provided by the Applicant. Therefore, no pre-existing dispute was present in relation to payment of revised wages by the Corporate Debtor.
