# In the matter of SDU Travels Private Limited

> NCLT judgment dated 2024-03-28. Citation: TCN-2024-NCLT-01915. The Employee's Provident Fund Organisation (EPFO) filed two applications, I.A. No. 275/2023 and…

- **Court:** NCLT
- **Order date:** 28 Mar 2024
- **Citation:** TCN-2024-NCLT-01915
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/sdu-travels-private-limited-57070f5b

## Summary

### Background

The Employee's Provident Fund Organisation (EPFO) filed two applications, I.A. No. 275/2023 and I.A. No. 276/2023, seeking condonation of delay and consideration of their claims for statutory dues against M/s. SDU Travels Private Limited, which is undergoing Corporate Insolvency Resolution Process (CIRP). The CIRP was initiated based on a petition filed by M/s. Park View Developers Private Limited under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. The EPFO's claims pertain to damages and interest on provident fund dues, which the Resolution Professional (RP) rejected on the grounds that the claims were filed after the stipulated period following the commencement of CIRP.

## Facts

M/s. SDU Travels Private Limited is undergoing CIRP initiated under Section 7 of the IBC, 2016, based on a petition by M/s. Park View Developers Private Limited. The CIRP commenced following an order dated 2022-01-06. The EPFO filed claims for statutory dues, specifically damages under Section 14B and interest under Section 7Q of the Employees' Provident Funds and Miscellaneous Provisions Act, 1952. For I.A No.275/2023, the claim was for Rs.42,22,026/- arising out of the assessment order dated 2020-03-04 for the period 2017-04-01 to 2019-06-30. For I.A No.276/2023, the claim was for Rs.2,10,063/- arising out of the assessment order dated 2022-12-28 for the period 2019-06-01 to 2022-07-31. The RP rejected these claims because they were filed beyond the 90-day period

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## Issues and analysis

### Issue 1: Whether the delay in filing the …

**Ratio:** The court relied on the principle that CIRP is a time-bound process and extraordinary

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**Reasoning:** The court reasoned that allowing the applications for condonation of delay would cause

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**Interpretation:** The interpretation is that the IBC aims for a swift resolution of insolvency,

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**Application:** The court applied this principle to the fact that the EPFO filed its claims

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## Parties

- **Judges:** K. Bi…; Manoj Kumar…
- **Appellants:** Employee's…
- **Respondents:** M/s. SDU Travels…; Ahsan A…

## Timeline

- **2021-01-01 — C.P. (IB) No.1…**: The Corporate Insolvency…
- **2022-01-06 — CIRP Init…**: Tribunal admitted the petition under section 7 of the IBC, 2016, filed by the Financial…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 7 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-7)

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