Creditor drags BHEL to NCLT to recover over Rs 1 crore due

Days after an Air India ex-pilot sough insolvency proceedings against the national carrier in the National Company Law Tribunal (NCLT), another state undertaking, Bharat Heavy Electricals (BHEL), has been is dragged to the NCLT by an operational creditor for dues of a little over Rs 1 crore. Acting under provisions of the Insolvency and Bankruptcy Code, 2016 (IBC), which makes it easy for employees and creditors to seek redressal under the overarching company law, Tricolite Electrical Industries Limited, a Gurugram, Haryana-based power sector company has filed an application under Section 9 of the IBC to get unpaid operational debt from BHEL. According to the complainant, the dues are in respect of supply of LT panels, and supervision of erection in relation to a 2X200 MW plant, Tishreen Power Plant, in Syria. The amount of debt under the petition is Rs 1,00,19,145. When the matter was listed before the bench on April 6, the advocate appearing for BHEL sought time to file its reply, and the matter has been posted for hearing on May 9. Late last month, Air India also faced a similar situation when a former pilot, Captain Subodh Kumar, who served Air India for 28 years, filed an insolvency application at the NCLT for unpaid salaries and allowances. In the petition, Kumar 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 0insolvency proceedings against the airline, Kumar alleged that the airline had deducted substantial salary, allowances and benefits payable to him. ref: http://www.mydigitalfc.com/companies-and-markets/creditor-drags-bhel-nclt-recover-over-rs-1-crore-due