# In the matter of Soubhagya Laxmi Sugars Ltd.

> NCLT judgment dated 2024-07-09. Citation: TCN-2024-NCLT-01046. The case involves two applications, I.A. No. 4 of 2024 and I.A. No. 87 of 2024, filed under…

- **Court:** NCLT
- **Order date:** 9 Jul 2024
- **Citation:** TCN-2024-NCLT-01046
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/soubhagya-laxmi-sugars-ltd-b511340b

## Summary

### Background

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).

## Facts

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

…

## Issues and analysis

### Issue 1: Whether the delay of 370 days in filing the claim by the Employee's Provident Fund Organisation …

**Ratio:** Claims filed after the approval of the Resolution Plan by the CoC cannot be entertained,

…

**Reasoning:** The Tribunal relied on the Supreme Court's judgment in M/s. RPS Infrastructure Ltd.

…

**Interpretation:** The IBC aims for a time-bound resolution of corporate insolvency. Allowing

…

**Application:** The EPFO's claim was filed 370 days after the last date for filing claims, and

…

## Parties

- **Judges:** K. Bi…; Manoj Kumar…
- **Appellants:** Employee's…
- **Respondents:** Soubhagya Laxmi…; CA Shirley…

## Timeline

- **2022-04-07 — Petition Ad…**: Petition admitted by the…
- **2022-04-23 — Public Annou…**: Public announcement for inviting…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 60(5) — Adjudicating Authority for corporate persons](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-60)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/soubhagya-laxmi-sugars-ltd-b511340b