Ex Pilot Moves NCLT To Initiate Insolvency Proceedings Against AI – BW Businessworld–30.03.2018

A former Air India pilot has dragged the national carrier to the National Company Law Tribunal (NCLT) seeking initiation of insolvency proceedings against it, saying the airline has been unable to clear his dues.

Captain Subodh Kumar, who served Air India (AI) for 28 years, has sought the settlement of his claims of Rs 67.84 lakh from the airline, alleging there were discrepancies in the payment of his salary and allowances between 2012 and 2016.

Seeking initiation of insolvency proceedings against AI, Kumar alleged that the airline had deducted substantial amount of salary, allowances and benefits payable to him and also failed to pay him the salary for January, 2016.

“In view of the foregoing, it is apparent that the corporate debtor company (AI) is commercial insolvent and is unable to pay its debts. The corporate debtor is not economically viable and poses a threat to commercial morality.

“In such circumstances, it is prayed that the court may be pleased to permit the applicant to proceed against the corporate debtor company in corporate insolvency resolution proceedings,” the petition said.

In his petition filed before the principal bench of the NCLT, the former pilot, who had joined the airline in 1988, said he had sent several reminders and requests to the airline to clear his dues, but when he got no response from them, he served a demand notice on January 3, 2018.

Upon serving a demand notice, Air India remitted a sum of Rs. 29,39,500 to Kumar’s account, without any communication or dispute, his plea said.

Kumar also furnished a reply he received from Air India in response to his application under the RTI Act, 2005 which revealed that his total dues, including salary and allowances, amounted to Rs 67,84,333.




via Ex Pilot Moves NCLT To Initiate Insolvency Proceedings Against AI – BW Businessworld

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