Insolvency action on firm for not paying worker on time
The National Company Law Tribunal has admitted an insolvency petition against a company for failing to pay an employee's dues on time. Nitin Gupta, a manager of Applied Electro Magnetics, filed a plea under Insolvency and Bankruptcy Code as an 'operational creditor' against the company. Unpaid salary amounted to â¹46 lakh due to delayed and irregular payments, Gupta said.