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Bankruptcy hits employees: Another scandal is brewing in IRP process

The employees are yet to receive the salaries which have been delayed by over a year

Business Standard 

Bankruptcy hits employees: Another scandal is brewing in IRP process

One of the Big Four audit companies which is managing the insolvency proceedings of a consumer durables firm is playing truant with the salaries of the bankrupt company employees. The insolvency resolution professional (IRP) deducted the income tax for April 2018 and paid the tax to the government but failed to deposit the salaries in the accounts of the employees. The employees are yet to receive the salaries which have been delayed by over a year. Insiders said the IRP was taking orders directly from the former promoters and was sitting on the salaries. Looks like yet another scandal is brewing in the IRP process.

Young and embarrassed

Leaders of the Bharatiya Janata Yuva Morcha, the youth wing of the BJP, and the Akhil Bharatiya Vidyarthi Parishad, the students' wing of the party, met Civil Aviation Minister Hardeep Singh Puri to demand India change the call sign for Indian airplanes. The current call sign is 'VT' which stands of 'Viceroy/Victorian Territory' and it is a symbol of 200-years of slavery, they said. “Even our prime minister travels to meet world leaders in an One B747-437, with a call sign VT-EVB,” the youth leaders said. They argued countries like Nepal, Sri Lanka and Zimbabwe have changed their call signs after independence. "The fact that the most vibrant democracy in the world still uses the British era call sign is nothing short of embarrassment," they said.

Lunch and dinner


Vice-President (pictured), who is also Rajya Sabha chairman, hosted a lunch for the floor leaders of all political parties at his residence. MPs look forward to lunches at Naidu's residence. Apart from offering sumptuous dishes, particularly Andhra Pradesh and Telangana cuisine, Naidu is also an exception for a Bharatiya Janata Party leader to serve non-vegetarian fare. At the luncheon meeting, Naidu sought the support of all political parties for the smooth functioning of the House. Though unrelated, soon after the lunch, four Rajya Sabha MPs joined the and met Naidu with a letter to that effect. In the evening, Prime Minister hosted a dinner for leaders of political parties. Vegetarian fare was served at the dinner.

First Published: Thu, June 20 2019. 21:07 IST
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