The case involves multiple applications (IA Nos. 45/2020, 46/2020, CA Nos. 353/2019, 597/2019, 570/2020, 605/2019, 329/2019 to 338/2019, 130/2019, 441/2019, 797/2019, 244/2019, 328/2019, 351/2019, 352/2019 and IA No. 255/2021) related to the Corporate Insolvency Resolution Process (CIRP) of Lakshmi Precision Screws Ltd. These applications were filed by various parties including workmen, employees, the Employees Provident Fund Organisation (EPFO), the Central Goods and Service Tax Department (CGST), and unsecured creditors, raising issues concerning the resolution plan, payment of dues, and compliance with statutory requirements under the Insolvency and Bankruptcy Code (IBC) and other related laws.
The Corporate Insolvency Resolution Process (CIRP) was initiated against Lakshmi Precision Screws Ltd. Several applications were filed by various parties, including workmen, employees, the Employees Provident Fund Organisation (EPFO), the Central Goods and Service Tax Department (CGST), and unsecured creditors. The workmen and employees claimed unpaid provident fund, gratuity, and other retirement benefits. The EPFO sought directions for payment of the total Provident Fund amount, citing the precedence of the Employees Provident Funds and Miscellaneous Provisions Act, 1952. The CGST Department sought directions for the clearance of GST liabilities of the pre-CIRP period. Unsecured creditors challenged the resolution plan, alleging that it did not adequately address
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Corporate Insolvency…
The applicant has prayed to set aside the…
The case involves multiple applications (IA Nos. 45/2020, 46/2020, CA Nos. 353/2019, 597/2019, 570/2020, 605/2019, 329/2019 to 338/2019, 130/2019, 441/2019, 797/2019, 244/2019, 328/2019, 351/2019, 352/2019 and IA No. 255/2021) related to the Corporate Insolvency Resolution Process (CIRP) of Lakshmi Precision Screws Ltd. These applications were filed by various parties including workmen, employees, the Employees Provident Fund Organisation (EPFO), the Central Goods and Service Tax Department (CGST), and unsecured creditors, raising issues concerning the resolution plan, payment of dues, and compliance with statutory requirements under the Insolvency and Bankruptcy Code (IBC) and other related laws.
The Corporate Insolvency Resolution Process (CIRP) was initiated against Lakshmi Precision Screws Ltd. Several applications were filed by various parties, including workmen, employees, the Employees Provident Fund Organisation (EPFO), the Central Goods and Service Tax Department (CGST), and unsecured creditors. The workmen and employees claimed unpaid provident fund, gratuity, and other retirement benefits. The EPFO sought directions for payment of the total Provident Fund amount, citing the precedence of the Employees Provident Funds and Miscellaneous Provisions Act, 1952. The CGST Department sought directions for the clearance of GST liabilities of the pre-CIRP period. Unsecured creditors challenged the resolution plan, alleging that it did not adequately address
…Corporate Insolvency…
The applicant has prayed to set aside the…