Ex-employee drags L&T to NCLT; firm denies charges

A shareholder and former employee of Larsen and Toubro (L&T) has approached the NCLT alleging oppression and mismanagement of employee welfare fund and assets of the company.

However, L&T refuted the claims, terming them as "frivolous" and "baseless".

The petitioner Uday Dixit sought action against the engineering major and its chief A M Naik.

Dixit, in his petition, alleged that the company, which is the only large firm majority-owned by employees, had committed fraud on shareholders and employees.

Denying the allegations, an L&T spokesperson said, "The petitioner has been filing frivolous and baseless cases against L&T and its management in the past few years. The courts have already dismissed five of these cases including the SLP in the Honourable Supreme Court of India in September 2013 and the writ petition in the Honourable High Court, Mumbai in March 2018. L&T will suitably respond to the petition in NCLT."