# In the matter of Bafna Pharmaceuticals Limited vs. Assistant Commissioner of Provident Fund,

> HC judgment dated 2025-05-29. Citation: TCN-2025-HC-00063. M/s. Bafna Pharmaceuticals Limited was admitted into Corporate Insolvency Resolution Process (CIRP)…

- **Court:** HC
- **Order date:** 29 May 2025
- **Citation:** TCN-2025-HC-00063
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/bombay-high-court-panaji/bafna-pharmaceuticals-limited-vs-assistant-commissioner-of-provident-fund-24293802

## Summary

### Background

M/s. Bafna Pharmaceuticals Limited was admitted into Corporate Insolvency Resolution Process (CIRP) by NCLT, Chennai Bench. A resolution plan was approved by NCLT and affirmed by NCLAT. The Civil Appeal filed before the Supreme Court challenging the approval was dismissed.

## Facts

M/s. Bafna Pharmaceuticals Limited was admitted into CIRP by NCLT, Chennai Bench.

A resolution plan was approved by NCLT and affirmed by NCLAT.

The Supreme Court dismissed the Civil Appeal challenging the approval of the resolution plan.

The petitioner challenges the recovery notice issued by the respondent.

The respondent contended that the EPFO was not a party before the NCLT and that the Approved Resolution Plan does not bind statutory authorities.

The petitioner submitted that the dues sought to be recovered were not part of the claims lodged before the Resolution Professional and were not provided for in the Approved Resolution Plan.

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## Issues and analysis

### Issue 1: Whether the present writ petition is maintainable in view of the availability of an efficacious …

**Ratio:** The IBC, 2016 is a comprehensive and self-contained legislation intended to facilitate

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**Reasoning:** The court relied on the Supreme Court's judgment in Embassy Property Developments Pvt.

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**Interpretation:** The court interpreted that the case at hand does not fall within any of the

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**Application:** The court applied the principle that the IBC, 2016 being a complete code

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## Parties

- **Judges:** A.D. Maria…
- **Respondents:** M/s. Bafna…; The Assistant…
- **Other parties:** Kalabu…
- **Advocates:** T. Ravich…; Sunita K…

## Timeline

- **16.07.2018 — CIRP Admi…**: M/s. Bafna Pharmaceuticals Limited was admitted into the Corporate Insolvency Resolution…
- **01.02.2019 — Resolution Plan…**: A Resolution Plan was subsequently approved by the NCLT on 01.02.2019, which was affirmed…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 60(5) — Adjudicating Authority for corporate persons](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-60)

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