The case involves two applications, I.A. No. 4 of 2024 and I.A. No. 87 of 2024, filed under Section 60(5) of the Insolvency and Bankruptcy Code (IBC), 2016. I.A. No. 4 was filed by the Employee's Provident Fund Organisation (EPFO) seeking condonation of a 370-day delay in filing claims for Provident Fund dues against Soubhagya Laxmi Sugars Ltd., the Corporate Debtor (CD). I.A. No. 87 was filed by the Deputy Commissioner of Commercial Taxes seeking to set aside an order rejecting their claim and to condone a 528-day delay in submitting their claim. The Resolution Professional (RP) opposed both applications, citing delays and the approval of the Resolution Plan by the Committee of Creditors (CoC).
The Employee's Provident Fund Organisation (EPFO) filed I.A. No. 4 of 2024 seeking condonation of a 370-day delay in filing claims for Provident Fund dues of Soubhagya Laxmi Sugars Ltd. The delay was from 06.07.2022 to 10.07.2023. The EPFO argued that the Corporate Debtor (CD) was responsible for the delay due to non-production of records. The Deputy Commissioner of Commercial Taxes filed I.A. No. 87 of 2024 seeking to set aside an order rejecting their claim and to condone a 528-day delay (06.07.2022 to 16.12.2023) in submitting their claim. The RP rejected the EPFO's claim, stating it was not filed within 90 days of the CIRP initiation. The RP also stated that the CoC had already approved the Resolution Plan. The RP argued that the EPFO was aware of the CIRP
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The case involves two applications, I.A. No. 4 of 2024 and I.A. No. 87 of 2024, filed under Section 60(5) of the Insolvency and Bankruptcy Code (IBC), 2016. I.A. No. 4 was filed by the Employee's Provident Fund Organisation (EPFO) seeking condonation of a 370-day delay in filing claims for Provident Fund dues against Soubhagya Laxmi Sugars Ltd., the Corporate Debtor (CD). I.A. No. 87 was filed by the Deputy Commissioner of Commercial Taxes seeking to set aside an order rejecting their claim and to condone a 528-day delay in submitting their claim. The Resolution Professional (RP) opposed both applications, citing delays and the approval of the Resolution Plan by the Committee of Creditors (CoC).
The Employee's Provident Fund Organisation (EPFO) filed I.A. No. 4 of 2024 seeking condonation of a 370-day delay in filing claims for Provident Fund dues of Soubhagya Laxmi Sugars Ltd. The delay was from 06.07.2022 to 10.07.2023. The EPFO argued that the Corporate Debtor (CD) was responsible for the delay due to non-production of records. The Deputy Commissioner of Commercial Taxes filed I.A. No. 87 of 2024 seeking to set aside an order rejecting their claim and to condone a 528-day delay (06.07.2022 to 16.12.2023) in submitting their claim. The RP rejected the EPFO's claim, stating it was not filed within 90 days of the CIRP initiation. The RP also stated that the CoC had already approved the Resolution Plan. The RP argued that the EPFO was aware of the CIRP
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