REDDY VEERRAJU CHOWDARY Vs. INSOLVENCY PROFESSIONAL/RESOLUTION PROFESSIONAL

JUDGEMENT

(1.) The petitioner, Reddy Veerraju Chowdary, has applied for the issue of a writ of mandamus directing the respondents to consider for acceptance his letter of resignation from service and issue him with a no-objection certificate, relieving letter, and, doing a final settlement of his service dues, including arrears of salary and gratuity, within such period of time that this Court may determine.

(2.) The petitioner is an employee of a private limited company, called the Gayatri Projects Limited. The Company aforesaid is registered under the Companies Act, 1956. Gayatri Projects Limited (for short, 'the Company') was incorporated on 15/9/1989. The Company has its registered office at T.R.S. Tower, B-1 6/3/1090, Raj Bhawan Road, Somajiguda, Hyderabad, Telangana. The Company was incorporated with the object of carrying out construction of Public Roads, State Highways and National Highways, undertaking these projects for Governments, that is to say, the State Governments and the Government of India. The Company would undertake these projects on contracts awarded.

(3.) Eschewing unnecessary detail, suffice it to say that the petitioner was selected and appointed with the Company on the post of an Account Assistant for their project site, UP-4, located at Jhansi vide letter of appointment dtd. 2/7/2005. According to the petitioner, he was a sincere and devoted employee. He was promoted to the position of an Associate General Manager (Accounts and Finance) and posted at the Regional Office of the Company, located at Varanasi, since 21/9/2015. The petitioner was associated with the construction of the National Highway-56 and 233 in Varanasi, as an employee of the Company. For whatever reason, the Company became insolvent and an application under Sec. 7 of the Insolvency and Bankruptcy Code, 2016 (for short, 'the Code of 2016'), being CP (IB) No.308/07/HDB/2022 was instituted against the Company before the National Company Law Tribunal, Hyderabad Bench.