9911796707
TMI Blog2024 (1) TMI 91X X X X Extracts X X X X X X X X Extracts X X X X ..... .06.2018, public announcement was made on 15.06.2018, the time period provided of 90 days expired on 15.09.2018 but still keeping in view the fact that it is a matter qua the amount of EPF, Form B was as on 18.02.2019 was entertained but in so far as the amount of interest and penalty is concerned, there was an inordinate delay as it has been assessed on 10.07.2019. Before parting with this order, Counsel for the Appellant has drawn our attention to an observation made by the Adjudicating Authority in the first appeal in Para 15 of the impugned order where it has been said that statutory dues of the CD are also settled at 10% of the admitted claims . In this regard, it is submitted that in view of the judgment of this Tribunal rendered ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lvency and Bankruptcy Code, 2016 (in short Code ) seeking approval of the resolution plan has been allowed (hereinafter referred to as first appeal ) and CA (AT) (Ins) No. 64 of 2023 again filed by the same Appellant against the order dated 20.10.2022 by which an application bearing I.A. No. 331/JPR/2021 filed under Section 60(5) of the Code seeking direction to the RP to consider the claim of Rs. 8,98,945/- in terms of the order dated 10.07.2019, having been passed by Assessment Officer under the EPFO, has been dismissed (hereinafter referred to as second appeal ). 2. Shorn of unnecessary details, the Appellant in both the appeals is common. The Appellant filed an application under Section 60(5) bearing I.A. No. 331/JPR/2021 during t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ority rejected the application filed by the Appellant on 20.10.2022, inter alia, on the ground that not only the order for approval of the resolution plan has been passed on 13.10.2021 but also the disputed amount does not form part of form B. 6. Aggrieved against the aforesaid two orders, the present appeals have been preferred and the only argument raised by the Appellant is that as per Section 36(4)(iii) the amount of provident fund cannot form part of the liquidation estate and has to be returned as it is. It is further submitted that although the RP has admitted the claim of Rs. 15,62,128/- but the claim of Rs. 5,85,819 and 3,13,126 which has been assessed as interest and penalty also forms part of EPF dues, therefore, the RP has co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e Commissioner and employees of the EPFO must take steps to ensure that there is compliance with the timelines provided under the Insolvency and Bankruptcy Code, 20162. Failure may have legal consequences. The employees of the EPFO must be aware of the consequences in order to ensure compliance. In case there is dereliction of duty, action should be taken against erring employees in accordance with law. Having said so, we are of the opinion that the impugned judgment does not, in any way, affect the rights of the EPFO to proceed in accordance with law, in view of Section 36(4)(a) (iii) of the IBC. Recording the aforesaid, we do not find any good ground and reason to interfere with the conclusion(s) reached in the impugned judgment and hence ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... public announcement was made on 15.06.2018, the time period provided of 90 days expired on 15.09.2018 but still keeping in view the fact that it is a matter qua the amount of EPF, Form B was as on 18.02.2019 was entertained but in so far as the amount of interest and penalty is concerned, there was an inordinate delay as it has been assessed on 10.07.2019. 11. Before parting with this order, Counsel for the Appellant has drawn our attention to an observation made by the Adjudicating Authority in the first appeal in Para 15 of the impugned order where it has been said that statutory dues of the CD are also settled at 10% of the admitted claims . In this regard, it is submitted that in view of the judgment of this Tribunal rendered in the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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