2021 (1) TMI 1258 - AT - Insolvency and Bankruptcy

Rejection of claim of the Appellant relating to provident fund dues - rejected partially ignoring the mandate of Section 36 of the Insolvency Bankruptcy Code, 2016 as also order of Division Bench of NCLT, Mumbai Bench in case of Precision Fasteners Ltd. v. Employees Provident Fund Organization 2018 (9) TMI 1532 - NATIONAL COMPANY LAW TRIBUNAL MUMBAI . HELD THAT - Issue notice upon Respondents. Appellant to provide mobile Nos./ e-mail address of the Respondents. Notice be issued through e-mail or any other available mode. Requisites along with process fee be filed within two days. List the appeal for admission (after notice) on 5th February, 2021

Summary

The National Company Law Appellate Tribunal, New Delhi condoned a delay of 388 days in an appeal related to provident fund dues of a Corporate Debtor. The appeal was preferred against an order passed by the Adjudicating Authority approving the Resolution Plan of 'Maruti Koatsu Cylinders Ltd.' The issue raised was the rejection of the claim partially, ignoring relevant legal provisions and previous judgments. Notice was issued to the Respondents, and the appeal was listed for admission on 5th February, 2021.