B.S.V. Prakash Kumar, Member - (1.) Oral Order dictated in the open court on 6.11.2017 It is an application moved by Engineering Labour Union (CITU) against the Corporate Debtor company, stating that the Resolution Professional has not considered the dues to the workers, basing on that stand, this applicant has asked for extension of IRP time before initiating liquidation of the Corporate Debtor, with a direction to the Resolution Professional to call for an appropriate proposal for the revival of the company guaranteeing continuation of the present staff members and workers and the Corporate Debtor to clear the pending salary/wage dues, allowances and benefits payable to the staff members and unpaid gratuity to the retired staff members.
(2.) On perusal of the application and exhibits thereof, it appears that the Union filed this application on the assumption that this Bench is entitled for extension of Insolvency Resolution Process time to reconsider the company as a going concern to protect the rights of the workmen of the company.
(3.) Looking at the documents he has filed, it appears that he has not filed even a single document pointing out that either the Committee of Creditors or the Insolvency Resolution Professional did something so as to cause loss either to the workmen or to any of the class of creditors mentioned therein.;