The Employees State Insurance Corporation (ESIC) filed an application (IA/629/CHE/2021) under Section 60(5) of the Insolvency and Bankruptcy Code (IBC), 2016, seeking to set aside the rejection of their claim by the Liquidator of Gemini Communication Limited and to direct the Liquidator to consider their claim. The ESIC's claim, totaling Rs. 30,81,615/-, comprised contributions, interest, and damages due from the Corporate Debtor. The Liquidator rejected the claim due to late filing, as the claim was submitted significantly after the cut-off date of 05.04.2019. The ESIC attributed the delay to a lack of knowledge within their legal department and the challenges posed by the Covid-19 pandemic.
The Employees State Insurance Corporation (ESIC) filed a claim against Gemini Communication Limited, which was undergoing liquidation. The ESIC's claim amounted to Rs. 30,81,615/-, representing contributions, interest, and damages. The Corporate Insolvency Liquidation was ordered on 2019-02-26. The last date for submission of claims was 2019-04-05, following a paper publication on 2019-03-09. The ESIC submitted its claim in Form C on 2020-10-23, but the Liquidator rejected it due to late filing. The ESIC argued that the delay was due to a lack of knowledge within their legal department and the Covid-19 pandemic. The Liquidator argued that the claim was filed 772 days after the prescribed deadline. The Corporate Debtor's assets had already been sold in an e-auction.
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Corporate Insolvency…
Liquidator caus…
The Employees State Insurance Corporation (ESIC) filed an application (IA/629/CHE/2021) under Section 60(5) of the Insolvency and Bankruptcy Code (IBC), 2016, seeking to set aside the rejection of their claim by the Liquidator of Gemini Communication Limited and to direct the Liquidator to consider their claim. The ESIC's claim, totaling Rs. 30,81,615/-, comprised contributions, interest, and damages due from the Corporate Debtor. The Liquidator rejected the claim due to late filing, as the claim was submitted significantly after the cut-off date of 05.04.2019. The ESIC attributed the delay to a lack of knowledge within their legal department and the challenges posed by the Covid-19 pandemic.
The Employees State Insurance Corporation (ESIC) filed a claim against Gemini Communication Limited, which was undergoing liquidation. The ESIC's claim amounted to Rs. 30,81,615/-, representing contributions, interest, and damages. The Corporate Insolvency Liquidation was ordered on 2019-02-26. The last date for submission of claims was 2019-04-05, following a paper publication on 2019-03-09. The ESIC submitted its claim in Form C on 2020-10-23, but the Liquidator rejected it due to late filing. The ESIC argued that the delay was due to a lack of knowledge within their legal department and the Covid-19 pandemic. The Liquidator argued that the claim was filed 772 days after the prescribed deadline. The Corporate Debtor's assets had already been sold in an e-auction.
Corporate Insolvency…
Liquidator caus…