# In the matter of Rakesh Kumar Vs. Sanjay Gupta of AAA Insolvency Professionals LLP, Being Liquidator of Samtel Color Ltd. CA(AT)(Ins)No. 783 of 2019

> NCLAT judgment dated 2019-12-04. Citation: TCN-2019-NCLAT-00059. The case involves an appeal before the National Company Law Appellate Tribunal (NCLAT)…

- **Court:** NCLAT
- **Order date:** 4 Dec 2019
- **Citation:** TCN-2019-NCLAT-00059
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/rakesh-kumar-vs-sanjay-gupta-of-aaa-insolvency-professionals-llp-being-liquidato-5af8d1f0

## Summary

### Background

The case involves an appeal before the National Company Law Appellate Tribunal (NCLAT) regarding insolvency proceedings. The liquidator is in the process of verifying employee claims related to Pension Fund, Gratuity Fund, and Provident Fund, with plans to deposit the funds. The funds are deposited through LIC by way of Bank premium.

## Facts

Rakesh Kumar filed an appeal against Sanjay Gupta of AAA Insolvency Professionals LLP, who is the liquidator of Samtel Color Ltd. The liquidator is verifying employee claims related to Pension Fund, Gratuity Fund, and Provident Fund. The liquidator intends to deposit these funds, which are currently deposited through LIC via bank premium. The court directed the liquidator to ensure the admitted amounts are paid into the appropriate funds within one month.

## Issues and analysis

### Issue 1: Whether the liquidator's actions regarding the verification and deposit of employee funds are …

**Ratio:** The liquidator has a fiduciary duty to verify and disburse employee dues in a timely

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**Reasoning:** The court acknowledges the liquidator's ongoing efforts to verify employee claims and

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**Interpretation:** The court interprets the liquidator's actions as being in line with the

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**Application:** The court's direction to the liquidator to ensure payment within one month

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## Parties

- **Judges:** S.J. Mukhop…; Bansi Lal…; +1 more
- **Appellants:** Rakesh…
- **Respondents:** Samtel Colo…; Sanjay Gupta of…

## Timeline

- **2019-12-04 — Order Da…**: Learned counsel appearing on behalf of the Liquidator submits that the Liquidator is in…

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