The Employees State Insurance Corporation (ESIC) filed an application under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, seeking condonation of delay in submitting the proof of claim and a direction to the Resolution Professional (RP) to admit the claim. The ESIC's claim pertains to statutory contributions that the Corporate Debtor allegedly failed to deposit for the period of December 2015 to April 2019. The RP rejected the claim as time-barred, leading ESIC to approach the NCLT Mumbai.
The Employees State Insurance Corporation (ESIC) filed an application against the Resolution Professional (RP) of Phadnis Resorts and Spa India Ltd., the Corporate Debtor, seeking condonation of delay in submitting the proof of claim and a direction to the RP to admit the claim. The ESIC's claim relates to unpaid statutory contributions from December 2015 to April 2019. The Corporate Debtor's Corporate Insolvency Resolution Process (CIRP) was initiated, and a moratorium was declared. The ESIC issued a show cause notice to the Corporate Debtor on 16.12.2020. The ESIC submitted its claim to the RP on 29.12.2020, which was received on 09.01.2021. The RP rejected the claim as time-barred via an email dated 09.01.2021. The ESIC argued that the lockdown from 21.03.2020
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CP (IB) 3603/MB/C-II/201…
Petition under Section 7 of the Code read…
The Employees State Insurance Corporation (ESIC) filed an application under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, seeking condonation of delay in submitting the proof of claim and a direction to the Resolution Professional (RP) to admit the claim. The ESIC's claim pertains to statutory contributions that the Corporate Debtor allegedly failed to deposit for the period of December 2015 to April 2019. The RP rejected the claim as time-barred, leading ESIC to approach the NCLT Mumbai.
The Employees State Insurance Corporation (ESIC) filed an application against the Resolution Professional (RP) of Phadnis Resorts and Spa India Ltd., the Corporate Debtor, seeking condonation of delay in submitting the proof of claim and a direction to the RP to admit the claim. The ESIC's claim relates to unpaid statutory contributions from December 2015 to April 2019. The Corporate Debtor's Corporate Insolvency Resolution Process (CIRP) was initiated, and a moratorium was declared. The ESIC issued a show cause notice to the Corporate Debtor on 16.12.2020. The ESIC submitted its claim to the RP on 29.12.2020, which was received on 09.01.2021. The RP rejected the claim as time-barred via an email dated 09.01.2021. The ESIC argued that the lockdown from 21.03.2020
…CP (IB) 3603/MB/C-II/201…
Petition under Section 7 of the Code read…