Coimbatore: The Chennai bench of the National Company Law Tribunal (NCLT) has initiated the corporate insolvency resolution process under the Insolvency and Bankruptcy Code (IBC) against a company based on a petition by an office assistant for non-payment of salary dues amounting to Rs 3.2 lakh.
Pradeep M R, the office assistant, classified as an operational creditor under the IBC, was appointed on July 1, 2011 by Merchem Limited, a manufacturer of specialty chemicals. The last payment of salary to him was made on February 22, 2016 for the month of December 2015. “Thereafter, no payment has been made in the account of the operational creditor,” NCLT said.
“The operational creditor has fulfilled all the requirements of …
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