NATIONAL COMPANY LAW TRIBUNAL, KOLKATA BENCH-2 KOLKATA IA(IBC). No. 1098/KB/2025 In CP(IB) No. 82/KB/2019 Date of Pronouncement: 22/01/2026 In the matter of:

Rahul Carbon Commercial Private Limited Operational Creditor And Kohinoor Steel Private Limited Corporate Debtor And Mr. Tarun Kumar Jain Residing at Flat No. 505 & 506, Block-A3,Phase-III, Vivek Vihar, 493/C/A, G T Road(S), Howrah-711102 Applicant Versus Mr. Ashok Kumar Sarawagi Resolution Professional of Kohinoor Steel Private Limited Resolution Professional In the matter of: Axis Bank Limited Applicant Versus Pankaj Kumar Kedia, Liquidator Application under Section 60(5) of the IBC Code 2016 read with Rule 11 of NCLT Rules 2016 Coram: Labh Singh, Hon’ble Member (Judicial)

Rekha Kantilal Shah, Hon’ble Member (Technical)

Present:

Ms. Shweta Dubey, Adv. ] for the Applicants.

Ms. Ishita Srivastava, Adv. ]

Mr. Joy Saha, Sr. Adv. ] For Rare Asset Mr. Rahul Auddy, Adv. ] Mr. Aditya Gooptu, Adv. ]

Mr. Akash Sharma, Adv. ] for the JVBNL.

O R D E R

LABH SINGH(JUDICIAL MEMBER)

1. The present Application has been filed by the applicant with a prayer to direct the Resolution Professional to treat the unpaid salary and benefits of the applicant for the period August 2023 to July 2024 along with terminal benefits as CIRP cost and disburse the same forthwith; to direct the Resolution Professional for making payment of reasonable annual increment of the applicant for the period of November 2019 to July 2024 during which no increment was granted; to award interest on the delayed salary dues at a reasonable rate from the respective due dates until actual payment; to award litigation and legal expenses incurred by the Applicant for filing and pursuing the present application; to reject any Resolution Plan failing to include the said outstanding dues part of CIRP costs; and pass such other or further orders as may be just, fit and proper in the facts and circumstances of the present case.

2. It has been submitted that the applicant joined the post of Chief Financial Officer (CFO) of Kohinoor Steel Private Limited (hereinafter referred to as "Corporate Debtor") on 16^th October, 2014. The applicant was issued a letter of intent dated 24^th September, 2014 for engaging him to the said post. Thereafter the applicant had been duly discharging key managerial responsibilities and discharged fiduciary responsibilities of the Corporate Debtor.

3. That an application being C.P. (IB) /82/KB/2019 under section 9 of the Insolvency & Bankruptcy Code, 2016, was preferred by an Operational Creditor, Rahul Carbon Commercials Private Limited before this Tribunal for initiating Corporate Insolvency Resolution Process(for short “CIRP”) against the Corporate Debtor on 31^st December, 2018. Thereafter this Tribunal vide order dated 20^th November, 2019 admitted the Corporate Debtor into the CIRP process; and by virtue of the same order, Mr. Ashok Kumar Sarawagi having Registration No. IBBI/IPA- 001/1P-P00171/2017-2018/10340 was appointed as the Interim Resolution Professional (IRP) in the instant matter.

4. The applicant further submits that he was in continuous employment on the date of commencement of CIRP and had accordingly filed his claim for outstanding salary dues amounting to Rs. 3,64,000/- for period prior to initiation of CIRP, i.e, from September 2019 to October 2019 before the IRP. The same was duly acknowledged and admitted by the Interim Resolution Professional.

5. During the first CoC meeting held on 20^th December, 2019, it was resolved that the Corporate Debtor would be operated as a going concern during the entire CIRP period and the same was duly recorded in the minutes of the 1^st meeting. Thereafter, under Agenda No. 6 on Point No. 7, it was noted that the IRP had duly apprised the CoC members that wages and salaries of employees, including contractor payments, are essential to maintain the status of the Corporate Debtor as a going concern, and such costs need to be remitted on regular basis. Further, the