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how to file for Jaypee NCLT claim
18-Aug-2023 (In Property Law)
I am a home buyer. Would somebody be able to help in filing my NCLT claims over Jaypee Infratech Insolvency, as I am currently not in INdia. If yes what would be a cost for the same
Requirements to file a petition in NCLT
There are certain elements which need to be fulfilled by a person to file a petition in NCLT for the recovery of the unpaid salaries, and they are:
• The person should be an employee of a company against which he is filing a case.
• He should be categorised as an operational creditor under Section 5(20) of the IBC.
• He must owe an operational debt against the defaulter company.
• The minimum amount of salary due to the person must be one lakh rupees.[3]
• The maximum value of the salary must not be more than one crore rupees.
Insolvency Resolution by an Operational Creditor
On the occurrence of a default, an Operational Creditor (here employee) can deliver demand notice or a copy of an invoice demanding payment of the amount involved in the default to the corporate debtor and the corporate debtor within ten days of receiving the notice or invoice may inform the creditor about:
• Existence of any dispute
• Record of the pendency of the suit or arbitration proceedings concerning such dispute filed before receiving the notice. A corporate debtor can also inform the creditor about repayment of the loan by sending attested copy of the:
• Record of electronic transfer of the unpaid amount from his bank account
• Record that creditor has encashed a cheque issued by the debtor
There are certain elements which need to be fulfilled by a person to file a petition in NCLT for the recovery of the unpaid salaries, and they are:
• The person should be an employee of a company against which he is filing a case.
• He should be categorised as an operational creditor under Section 5(20) of the IBC.
• He must owe an operational debt against the defaulter company.
• The minimum amount of salary due to the person must be one lakh rupees.[3]
• The maximum value of the salary must not be more than one crore rupees.
Insolvency Resolution by an Operational Creditor
On the occurrence of a default, an Operational Creditor (here employee) can deliver demand notice or a copy of an invoice demanding payment of the amount involved in the default to the corporate debtor and the corporate debtor within ten days of receiving the notice or invoice may inform the creditor about:
• Existence of any dispute
• Record of the pendency of the suit or arbitration proceedings concerning such dispute filed before receiving the notice. A corporate debtor can also inform the creditor about repayment of the loan by sending attested copy of the:
• Record of electronic transfer of the unpaid amount from his bank account
• Record that creditor has encashed a cheque issued by the debtor
Helpful?
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Adv. Siddhant Sharma
Delhi | 500+ Answers
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