The case involves an appeal against an order passed by the Adjudicating Authority, Chennai Bench, concerning MA No. 830 of 2019 in Company Petition No. CP/1037/(I.B.)/2018. The Financial Creditor, Edelweiss Asset Reconstruction Company Ltd, initiated a company petition under Section 7 of the IBC. The Adjudicating Authority admitted the petition and appointed a Resolution Professional, who then filed MA No.830/2019 to cancel the encumbrance created by an order of attachment registered by the EPFO Vellore. The Corporate Debtor also filed MA No. 830 of 2019 to cancel the encumbrance. The EPFO filed its reply, but the Adjudicating Authority disposed of the application without considering the EPFO's reply.
The Financial Creditor, Edelweiss Asset Reconstruction Company Ltd, initiated CIRP against Sholingur Textiles Limited by filing a petition under Section 7 of the IBC. The Adjudicating Authority admitted the petition and appointed a Resolution Professional. The EPFO (Regional Provident Fund Commissioner) had attached the immovable properties of Sholingur Textiles Limited before the CIRP initiation to recover outstanding dues, issuing an attachment order on August 4, 2017. The Recovery Officer also sent a letter to the Sub Registrar on May 10, 2018, requesting the encumbrance of the properties in the name of EPFO. The Adjudicating Authority, however, passed an order to cancel the encumbrance created by the EPFO's attachment, without considering the EPFO's reply. The
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EPFO issued an attachment order for the…
Recovery Officer sent a letter to the Sub…
The case involves an appeal against an order passed by the Adjudicating Authority, Chennai Bench, concerning MA No. 830 of 2019 in Company Petition No. CP/1037/(I.B.)/2018. The Financial Creditor, Edelweiss Asset Reconstruction Company Ltd, initiated a company petition under Section 7 of the IBC. The Adjudicating Authority admitted the petition and appointed a Resolution Professional, who then filed MA No.830/2019 to cancel the encumbrance created by an order of attachment registered by the EPFO Vellore. The Corporate Debtor also filed MA No. 830 of 2019 to cancel the encumbrance. The EPFO filed its reply, but the Adjudicating Authority disposed of the application without considering the EPFO's reply.
The Financial Creditor, Edelweiss Asset Reconstruction Company Ltd, initiated CIRP against Sholingur Textiles Limited by filing a petition under Section 7 of the IBC. The Adjudicating Authority admitted the petition and appointed a Resolution Professional. The EPFO (Regional Provident Fund Commissioner) had attached the immovable properties of Sholingur Textiles Limited before the CIRP initiation to recover outstanding dues, issuing an attachment order on August 4, 2017. The Recovery Officer also sent a letter to the Sub Registrar on May 10, 2018, requesting the encumbrance of the properties in the name of EPFO. The Adjudicating Authority, however, passed an order to cancel the encumbrance created by the EPFO's attachment, without considering the EPFO's reply. The
…EPFO issued an attachment order for the…
Recovery Officer sent a letter to the Sub…