ISG NOVASOFT TECHNOLOGIES LIMITED Vs. GAYATRI BALASAMY

JUDGEMENT

(1.) THIS appeal arises out of the order dated 14.11.2008 in A.No.1793 of 2008 whereby the learned single Judge directed the Appellant to give bank guarantee for the sum offered as a settlement to the tune of Rs.74,94,564/- out of Rs.1,13,53,680/- less applicable taxes.

(2.) APPELLANT company-ISG Novasoft Technologies Limited is engaged in the business of dealing with various products relating to Information Technology. Respondent-Gayatri Balasamy joined the APPELLANT company on 10.03.1996. APPELLANT company and Respondent entered into an agreement which came into force on 27.04.2006. Respondent was appointed as APPELLANT Company's Vice President for Mergers and Acquisition on a salary of Rs.54 lakhs per month. Before taking up the assignment, Respondent has entered into an application for employment. Respondent has been working in the APPELLANT company. In the month of December 2007, APPELLANT company decided to terminate the services of the Respondent. By the letter dated 20.12.2007, APPELLANT company terminated the services of the Respondent. A cheque for Rs.14,85,225/- was sent towards salary for four months, net of taxes, in lieu of notice was sent to the Respondent.

(3.) APPELLANT company resisted the application contending that the very entry of the Respondent under the employment agreement is with fraud, since the Respondent had concealed her employment with one M/s.Covansys India Private Limited as Senior Business Analyst and for the irregularities committed by her. APPELLANT alleges that Respondent had misrepresented the facts at the time of her seeking employment and APPELLANT company had also issued notice of recovery of money under various heads. Further case of APPELLANT is that Respondent has maliciously filed criminal complaints against the Chief Executive Officer and other persons who were not on Board of the APPELLANT company.