The Regional Provident Fund Commissioner (Appellant) filed an appeal under Section 42 of the Insolvency and Bankruptcy Code, 2016 (IBC) challenging the partial rejection of its claim by the Liquidator of the Corporate Debtor, Hindustan Paper Corporation Limited (Respondent). The Appellant sought the allowance of the appeal, setting aside letters dated 12.05.2022 and 24.05.2022 issued by the Respondent Liquidator rejecting the claim for PF dues beyond Rs. 120.77 Crores, and directing the Respondent Liquidator to accept the entire claim of Rs. 386.48 Crores for the PF dues of the Corporate Debtor as detailed in its letter dated 31.01.2022. The Corporate Debtor was admitted to Corporate Insolvency Resolution Process, and a moratorium was declared on 13.06.2018.
…The Regional Provident Fund Commissioner (Appellant) filed an appeal against the partial rejection of its claim by the Liquidator of Hindustan Paper Corporation Limited (Corporate Debtor/Respondent). The Corporate Debtor was admitted into Corporate Insolvency Resolution Process (CIRP) with a moratorium declared on 13.06.2018. Subsequently, the Corporate Debtor was ordered to be liquidated, and Shri Kuldeep Verma was appointed as the Liquidator on 02.05.2019. The Appellant submitted claims for PF dues in three phases, totaling Rs. 386.48 Crores. The Liquidator partially admitted the claim for Rs. 120.77 Crores, leading to the appeal. The Appellant argued that EPF payments should have priority over other dues under Section 11 of the EPF & MP Act, 1952. The Respondent
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Corporate Debtor admitted to Corporate…
Corporate Debtor ordered to be liquidated,…
The Regional Provident Fund Commissioner (Appellant) filed an appeal under Section 42 of the Insolvency and Bankruptcy Code, 2016 (IBC) challenging the partial rejection of its claim by the Liquidator of the Corporate Debtor, Hindustan Paper Corporation Limited (Respondent). The Appellant sought the allowance of the appeal, setting aside letters dated 12.05.2022 and 24.05.2022 issued by the Respondent Liquidator rejecting the claim for PF dues beyond Rs. 120.77 Crores, and directing the Respondent Liquidator to accept the entire claim of Rs. 386.48 Crores for the PF dues of the Corporate Debtor as detailed in its letter dated 31.01.2022. The Corporate Debtor was admitted to Corporate Insolvency Resolution Process, and a moratorium was declared on 13.06.2018.
…The Regional Provident Fund Commissioner (Appellant) filed an appeal against the partial rejection of its claim by the Liquidator of Hindustan Paper Corporation Limited (Corporate Debtor/Respondent). The Corporate Debtor was admitted into Corporate Insolvency Resolution Process (CIRP) with a moratorium declared on 13.06.2018. Subsequently, the Corporate Debtor was ordered to be liquidated, and Shri Kuldeep Verma was appointed as the Liquidator on 02.05.2019. The Appellant submitted claims for PF dues in three phases, totaling Rs. 386.48 Crores. The Liquidator partially admitted the claim for Rs. 120.77 Crores, leading to the appeal. The Appellant argued that EPF payments should have priority over other dues under Section 11 of the EPF & MP Act, 1952. The Respondent
…Corporate Debtor admitted to Corporate…
Corporate Debtor ordered to be liquidated,…