# In the matter of Triupati Jute Industries Limited IA(I.B.C)1484(KB)2019 & IA(IBC)-744.757.849.904.960.1442(KB)2020 & IA(IBC)-61(KB)2021 in C.P.(IB)-508(KOB)2017

> NCLT judgment dated 2021-10-06. Citation: TCN-2021-NCLT-00808. The case involves an application (IA/849(KB)2021) filed by Daaksh Jute LLP, aggrieved by the…

- **Court:** NCLT
- **Order date:** 6 Oct 2021
- **Citation:** TCN-2021-NCLT-00808
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/triupati-jute-industries-limited-iaibc1484kb2019-iaibc-7447578499049601442kb2020-990b493c

## Summary

### Background

The case involves an application (IA/849(KB)2021) filed by Daaksh Jute LLP, aggrieved by the attachment of their ODCC account by R-1 and R-2. The applicant seeks a declaration that the impugned notice dated 21/09/2021 is illegal, arguing that the Employees Provident Fund Organisation's claim has already been filed with the Liquidator. The Liquidator and Provident Fund Authorities have objected to the maintainability of the petition.

## Facts

Daaksh Jute LLP filed an application (IA/849(KB)2021) because R-1 and R-2 attached their ODCC account (no. 50200055570842) at HDFC Bank, Liluah Branch, Howrah, and their current account (no. 50200054829521) on 2021-09-21. Daaksh Jute LLP seeks a declaration that the notice dated 2021-09-21 is illegal because the Employees Provident Fund Organisation's claim has already been filed with the Liquidator. The Liquidator and Provident Fund Authorities object to the application's maintainability under section 60(5) of the Code. The applicant's bank facilities have been attached, preventing wage payments to workers. The court issued an interim order allowing the operation of the ODCC account to pay wages, estimated at Rs. 1 Crore. The case is listed for further hearing on

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## Issues and analysis

### Issue 1: Whether the impugned notice dated 21/09/2021 attaching the ODCC account of Daaksh Jute LLP is …

**Ratio:** The principle is that actions relating to the Corporate Insolvency Resolution Process or

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**Reasoning:** The applicant argues that the Employees Provident Fund Organisation's claim has already

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**Interpretation:** The interpretation is that actions taken outside the IBC framework that affect

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**Application:** The court, without making a final determination on the legality of the notice,

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## Parties

- **Judges:** Rajasekha…; Harish Chander…
- **Appellants:** Daaksh Ju…
- **Respondents:** Tirupati Jute…; Small Industries…

## Timeline

- **2021-10-07 — Hearing…**: Hearing held on October…
- **2021-09-21 — Impugned Noti…**: Date of the impugned notice…

## 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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