1. The present application is filed by the Applicant, Captain Fadi Damman (hereinafter referred to as the Operational Creditor), a former employee of the Corporate Debtor, under Section 9 of the IBC1 Insolvency and Bankruptcy Code, 2016., seeking initiation of the CIRP2 Corporate Insolvency Resolution Process. against the Respondent, Turbo Megha Airways Private Limited (hereinafter referred to as the “Corporate Debtor”), for non-payment of operational dues amounting to Rs. 1,30,82,552/-.

THE APPLICATION

2. The Applicant, Captain Fadi Damman, submits that he joined Turbo Megha Airways Private Limited, which operates under the TRUJET brand name, on 14.07.2017 as an Expatriate and provided Pilot services in accordance with the terms and conditions of the Employment Contract executed with the Corporate Debtor.

3. The Applicant submits that, despite repeated reminders, the Corporate Debtor, in breach of the Employment Contract, failed to pay monthly emoluments which accumulated to Rs. 1,30,82,552/- for the period ending 15.04.2022. It is submitted that the Applicant tendered resignation vide email dated 15.04.2022 and claimed outstanding salary dues in respect of employment services rendered till 15.04.2022. The Applicant further submits that, in reply to the email dated 23.04.2022 sent by the CEO of the Corporate Debtor, he vide email dated 28.04.2022 reconfirmed his decision to resign from the services of the Corporate Debtor.

4. The Applicant submits that, in view of the failure and neglect of the Corporate Debtor in paying the outstanding monthly emoluments, a Demand Notice in Form-3 dated 02.05.2022 was issued through its Counsel under section 8 of the IBC, and was served on the Corporate Debtor on 05.05.2022. It is submitted that the Corporate Debtor replied to the Demand Notice vide email dated 14.05.2022 with factually incorrect and false information and numbers, taking false, untenable and fanciful contentions in breach of the Employment Contract and violation of applicable laws, to which the Corporate Debtor is put to strict proof.

5. The Applicant denies the allegation that he had not provided training and submits that he successfully trained four pilots despite non-payment of the respective allowance. It is submitted that the Corporate Debtor cannot attribute its mismanagement, operational inefficiency, and failure to induct a second aircraft for training to the Applicant, as the simulator was made inoperative and training was stopped on the instructions of Global Training Aviation (GTA), following which the crew was recalled back to base.

THE COUNTER

6. The Respondent submitted that the computation of the alleged debt of Rs. 1,30,82,552/- is vague, ambiguous, patently erroneous, and inflated solely for the present petition. It was contended that there is no basis for the said claim and that the actual amount due is only Rs. 17,85,248/-, as stated in the reply to the Demand Notice, and that the Petitioner has placed no material on record to dispute the said amount of Rs. 17,85,248/-. The Respondent further submitted that, since the debt is below the threshold prescribed under Section 4 of the Code, the petition is not maintainable and liable to be dismissed in limine.

7. The Respondent submitted that the Petitioner has provided no details as to when the debt fell due. It was contended that the Petitioner falsely claimed 15.04.2022, i.e., the date of resignation, as the date of default, whereas the claim pertains to non-payment of salary dues and allowances payable every month under the Employment Contract dated 07.07.2018, as amended from time to time. The Respondent further submitted that it is not the Petitioner’s case that such amounts became payable only upon resignation.

8. The Respondent submitted that the Petitioner has included TDS and PF dues payable to the relevant statutory authorities in his claim, though the same are not payable to the Petitioner. It was further contended that unpaid TDS cannot be termed a