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