The Central Board of Trustees, Employee Provident Fund Organization (EPFO), filed an application against the Liquidator of Khaitan Electricals Limited (Corporate Debtor) seeking condonation of delay in submitting the claim form and directing the Liquidator to consider and admit the claim of Rs.5,18,621/-. The EPFO's claim pertains to pending dues, contributions, interest, and penal damages for the period from August 2017 to April 2019. The Liquidator rejected the claim, citing that it was filed after the expiry of 30 days from the date of the liquidation order. The EPFO argued that the Liquidator is obligated to pay the claimed amounts, including interest and damages, relying on NCLAT's decision in Tourism Finance Corporation of India Pvt. Ltd. v. Rainbow Papers Ltd.
…The Central Board of Trustees, Employee Provident Fund Organization (EPFO), filed an application against the Liquidator of Khaitan Electricals Limited (Corporate Debtor). The Corporate Debtor was admitted into CIRP on 2018-11-28 and later into liquidation on 2019-08-23. The EPFO sought condonation of a 1652-day delay in submitting its claim. The EPFO's claim amounted to Rs.5,18,621/-, representing pending dues, contributions, interest, and penal damages for the period from August 2017 to April 2019. The EPFO had initially submitted a claim of Rs.56,51,837/-, which was approved and disbursed by the Liquidator. However, the EPFO later submitted an additional claim for Rs.5,18,621/-, which the Liquidator rejected, stating that claims filed after the expiry of 30 days from
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The Corporate Debtor was admitted into…
The Corporate Debtor…
The Central Board of Trustees, Employee Provident Fund Organization (EPFO), filed an application against the Liquidator of Khaitan Electricals Limited (Corporate Debtor) seeking condonation of delay in submitting the claim form and directing the Liquidator to consider and admit the claim of Rs.5,18,621/-. The EPFO's claim pertains to pending dues, contributions, interest, and penal damages for the period from August 2017 to April 2019. The Liquidator rejected the claim, citing that it was filed after the expiry of 30 days from the date of the liquidation order. The EPFO argued that the Liquidator is obligated to pay the claimed amounts, including interest and damages, relying on NCLAT's decision in Tourism Finance Corporation of India Pvt. Ltd. v. Rainbow Papers Ltd.
…The Central Board of Trustees, Employee Provident Fund Organization (EPFO), filed an application against the Liquidator of Khaitan Electricals Limited (Corporate Debtor). The Corporate Debtor was admitted into CIRP on 2018-11-28 and later into liquidation on 2019-08-23. The EPFO sought condonation of a 1652-day delay in submitting its claim. The EPFO's claim amounted to Rs.5,18,621/-, representing pending dues, contributions, interest, and penal damages for the period from August 2017 to April 2019. The EPFO had initially submitted a claim of Rs.56,51,837/-, which was approved and disbursed by the Liquidator. However, the EPFO later submitted an additional claim for Rs.5,18,621/-, which the Liquidator rejected, stating that claims filed after the expiry of 30 days from
…The Corporate Debtor was admitted into…
The Corporate Debtor…