# In the matter of Acharya Techno Solutions (India) Pvt. Ltd. I.A-176-KOB-2020 In MA-05-KOB-2020 in TIBA-01-KOB-2019

> NCLT judgment dated 2021-02-18. Citation: TCN-2021-NCLT-03009. This case involves an application (IA/176/KOB/2020) filed by the Liquidator regarding the…

- **Court:** NCLT
- **Order date:** 18 Feb 2021
- **Citation:** TCN-2021-NCLT-03009
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/acharya-techno-solutions-india-pvt-ltd-ia-176-kob-2020-in-ma-05-kob-2020-in-tiba-e85b4420

## Summary

### Background

This case involves an application (IA/176/KOB/2020) filed by the Liquidator regarding the treatment of EPFO (Employees' Provident Fund Organisation) claims in the liquidation of Achariya Techno Solutions (India) Pvt Ltd. The liquidation was ordered on 2020-02-19. The Liquidator sought directions on dealing with EPFO's claim under Sections 35(1)(n) and 60(5) of the IBC, 2016. EPFO asserted that its dues are statutory and have first charge over the assets, not requiring submission in Form G.

## Facts

On 2020-02-19, the Tribunal ordered the liquidation of Achariya Techno Solutions (India) Pvt Ltd. The Resolution Professional, Shri. Shawn Jeff Christopher, was appointed as Liquidator. After the liquidation process commenced, EPFO claimed dues, asserting they do not form part of the liquidation estate under Section 36(4)(a)(iii) of the IBC, 2016. The Liquidator found that the Corporate Debtor did not maintain funds earmarked for Provident Fund payments and requested EPFO to submit claims in Form G. The Liquidator received claims from employees, operational creditors, unsecured financial creditors, and statutory authorities. EPFO argued that its dues are statutory under Sections 7A, 7Q, and 14B of the EPF&MP Act, 1952, and have first charge over the assets. The

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## Issues and analysis

### Issue 1: Whether the dues of the Employees' Provident Fund Organisation (EPFO) should be treated as …

**Ratio:** The ratio is that contributions, interest, and damages payable under the Employees'

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**Reasoning:** The court reasoned that the relevant sections of the EPF&MP Act, specifically

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**Interpretation:** The interpretation is that statutory dues, as defined under the EPF&MP Act,

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**Application:** In this specific case, the court applied the ratio and reasoning by directing

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## Parties

- **Judges:** Ashok Kumar…
- **Appellants:** V-Con Integrated…
- **Respondents:** Acharya Techno…

## Timeline

- **2020-02-19 — Liquidation…**: Tribunal ordered liquidation of M/s.…
- **2020-05-06 — EPFO Let…**: EPFO sent a letter stating that dues under EPF&MP Act, 1952 do not form part of the…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 35(1) — Powers and duties of liquidator](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-35)

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