JUDGEMENT

(13th May, 2024) INDEVAR PANDEY, MEMBER (TECHNICAL) This appeal has been filed under Section 61(3) of Insolvency and Bankruptcy Code (in short ‘IBC’) challenging the impugned order of National Company Law Tribunal, Kolkata Bench, Kolkata (in short ‘Adjudicating Authority) in CA (IB) No. 736/KB/2019 in CP (IB) No. 61/KB/2018 (in short main Insolvency application) passed on 27th September, 2019. By this order, Adjudicating Authority rejected the claim of the Appellant to be treated on par with other Financial Creditors and to make the Appellant eligible for distribution of claims as per Resolution Plan.

2. One Jayanta Kumar Panja, an ex-employee of Fort Gloster Industries Limited (Corporate Debtor) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 (in short IBC) for initiation of the Corporate Insolvency Resolution Process on account of default in payment of Rs.1,13,946/- towards his gratuity. The said application bearing CP (IB) No.61/KB/2018 was admitted by the Adjudicating Authority (National Company Law Tribunal, Kolkata Bench, Kolkata) on 09.08.2018. Manish Jain was appointed as the Interim Resolution Professional (IRP) who was replaced by