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NATIONAL COMPANY LAW TRIBUNAL
DR. VENKATA RAMAKRISHNA BADARINATH NANDULA, MEMBER (JUDICIAL), SHRI CHARAN SINGH, MEMBER (TECHNICAL)
IDBI Bank Limited – Appellant
Versus
Lanco Infratech Limited – Respondent
| Table of Content |
|---|
| 1. application regarding gratuity payment under insolvency rules. (Para 1 , 2) |
| 2. claims made by ex-employees for gratuity. (Para 3) |
| 3. discussion of the legal status of gratuity claims post-liquidation. (Para 4 , 6) |
| 4. legal arguments presented regarding the payment obligations of the liquidator. (Para 5 , 7) |
| 5. final court ruling on the gratuity claims. (Para 8 , 9 , 10) |
ORDER
1. This Application is filed by the Petitioners under Section 60 (5) of the Insolvency and Bankruptcy Code, 2016 seeking to Direct the liquidator to pay the gratuity amount to the Petitioners as per the list for workmen and employees who are eligible for payment of the gratuity as detailed in the list of workmen and employees uploaded to the Lanco website and as detailed in the Annexure – A and pass such other order or orders as may be deemed fit in the circumstances of the case.
2. Gist of the application:
2.1 It is averred that the Petitioners worked as Employees in M/s. Lanco Infratech Limited (hereinafter called the Corporate Debtor). It is stated that the Financial Creditor filed Company Petition under Section 7 of the IB Code which was admitted and RP was appointed and subsequently Liquidator
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