Coimbatore: In a ruling that would benefit workers seeking initiation of insolvency against their employer for pending wages, the National Company Law Appellate Tribunal (NCLAT) has said that eligible employees can be represented through a single application.
With this, the NCLAT has overturned the order by the National Company Law Tribunals (NCLT), Kolkata bench that rejected an application for commencement of Corporate Insolvency Resolution Process on the ground that there must have been individual applications by workers.
In all, 284 employees of Tayo Rolls, a subsidiary of Tata Steel, were represented by one applicant in the NCLT. The NCLT rejected the application for commencement of Corporate Insolvency Resolution Process under the …
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