Termination of employee during insolvency

This query is : Resolved 

Querist : Anonymous (Querist)
23 July 2020

Dear Sir(s),

Resolution professional has issued termination letter to the employees without conducting vote on this issue.

My understanding is as under:

Relevant Section is Section 28 (1) (L) read with Section 5 (23) of insolvency and bankruptcy code.

As per these sections Resolution professional can only terminate the employee subsequent to voting conducted in this regard and further upon securing 66% vote in favour of this Agenda.

Kindly advise whether my understanding is correct or else advise the right method of doing during Insolvency.

Any judgment in support of the contention if available may be forwarded.


Sudhir Kumar (Expert)
15 September 2020

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