The case involves an application (IA(IBC)/298/KOB/2022) filed by the Regional Provident Fund Commissioner-II (Legal) against the Liquidator of Propyl Packaging Limited, which is undergoing liquidation. The applicant sought a direction from the NCLT to the liquidator to consider their representation (Annexure A-9) and release the entire amount due to the Employees' Provident Fund Organisation (EPFO) as claimed in their claim petition, without limiting it as done in Annexure A-8. Propyl Packaging Limited was admitted into the Corporate Insolvency Resolution Process (CIRP) on 2020-02-14. The applicant submitted a claim petition for Rs. 7,68,989/- before the constitution of the liquidation estate, representing EPF statutory dues from November 2014 onwards. The applicant
…Prayag Poly. Tech Pvt. Ltd. is undergoing liquidation. The Regional Provident Fund Commissioner-II (Legal) filed an application against the Liquidator of Propyl Packaging Limited, seeking the release of Rs. 7,68,989/- due to the Employees' Provident Fund Organisation (EPFO). Propyl Packaging Limited was admitted into Corporate Insolvency Resolution Process (CIRP) on 2020-02-14. The applicant submitted a claim petition for the EPFO dues, which included EPF dues, penal damages under Section 14B of the Act, and interest under Section 7Q for the belated remittance of statutory contribution from 2014-01-01 onwards. The Liquidator initially admitted Rs. 70,942/- out of the total claim but later rejected the revised claim of Rs. 7,68,989/- because it was filed after the
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The initial insolvency…
Propyl Packaging Limited was admitted into the…
The case involves an application (IA(IBC)/298/KOB/2022) filed by the Regional Provident Fund Commissioner-II (Legal) against the Liquidator of Propyl Packaging Limited, which is undergoing liquidation. The applicant sought a direction from the NCLT to the liquidator to consider their representation (Annexure A-9) and release the entire amount due to the Employees' Provident Fund Organisation (EPFO) as claimed in their claim petition, without limiting it as done in Annexure A-8. Propyl Packaging Limited was admitted into the Corporate Insolvency Resolution Process (CIRP) on 2020-02-14. The applicant submitted a claim petition for Rs. 7,68,989/- before the constitution of the liquidation estate, representing EPF statutory dues from November 2014 onwards. The applicant
…Prayag Poly. Tech Pvt. Ltd. is undergoing liquidation. The Regional Provident Fund Commissioner-II (Legal) filed an application against the Liquidator of Propyl Packaging Limited, seeking the release of Rs. 7,68,989/- due to the Employees' Provident Fund Organisation (EPFO). Propyl Packaging Limited was admitted into Corporate Insolvency Resolution Process (CIRP) on 2020-02-14. The applicant submitted a claim petition for the EPFO dues, which included EPF dues, penal damages under Section 14B of the Act, and interest under Section 7Q for the belated remittance of statutory contribution from 2014-01-01 onwards. The Liquidator initially admitted Rs. 70,942/- out of the total claim but later rejected the revised claim of Rs. 7,68,989/- because it was filed after the
…The initial insolvency…
Propyl Packaging Limited was admitted into the…