The case involves an application filed by the Liquidator of Shirt Company (India) Private Limited, Mr. Anuj Bajpai, under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, seeking reliefs related to the claims of the Employees' Provident Fund Organisation (EPFO). The Corporate Insolvency Resolution Process (CIRP) was initiated against the Corporate Debtor on 26.02.2020. The EPFO filed a claim during CIRP, which was admitted. Subsequently, the Committee of Creditors resolved to initiate liquidation. The EPFO initiated recovery proceedings against the Corporate Debtor for its dues, leading to the present application by the Liquidator.
The Corporate Insolvency Resolution Process (CIRP) was initiated against Shirt Company (India) Private Limited on 26.02.2020. During the CIRP, the Employee Provident Fund Organisation (EPFO) filed a claim of Rs. 1,24,86,750/- which was admitted by the Interim Resolution Professional (IRP). Subsequently, the Committee of Creditors resolved to initiate liquidation. The EPFO initiated recovery proceedings under the EPF & MP Act, 1952, attaching the assets of the Corporate Debtor. The Liquidator, Mr. Anuj Bajpai, filed an application seeking to restrain the EPFO from continuing recovery proceedings and to lift the attachment, arguing that the EPFO's claims should be treated under the waterfall mechanism as per Section 53 of the Insolvency and Bankruptcy Code (IBC). The
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Company Petition admitted under Section 9 of…
Respondent No. 1 filed its claim before the IRP…
The case involves an application filed by the Liquidator of Shirt Company (India) Private Limited, Mr. Anuj Bajpai, under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, seeking reliefs related to the claims of the Employees' Provident Fund Organisation (EPFO). The Corporate Insolvency Resolution Process (CIRP) was initiated against the Corporate Debtor on 26.02.2020. The EPFO filed a claim during CIRP, which was admitted. Subsequently, the Committee of Creditors resolved to initiate liquidation. The EPFO initiated recovery proceedings against the Corporate Debtor for its dues, leading to the present application by the Liquidator.
The Corporate Insolvency Resolution Process (CIRP) was initiated against Shirt Company (India) Private Limited on 26.02.2020. During the CIRP, the Employee Provident Fund Organisation (EPFO) filed a claim of Rs. 1,24,86,750/- which was admitted by the Interim Resolution Professional (IRP). Subsequently, the Committee of Creditors resolved to initiate liquidation. The EPFO initiated recovery proceedings under the EPF & MP Act, 1952, attaching the assets of the Corporate Debtor. The Liquidator, Mr. Anuj Bajpai, filed an application seeking to restrain the EPFO from continuing recovery proceedings and to lift the attachment, arguing that the EPFO's claims should be treated under the waterfall mechanism as per Section 53 of the Insolvency and Bankruptcy Code (IBC). The
…Company Petition admitted under Section 9 of…
Respondent No. 1 filed its claim before the IRP…