# The Regional Provident Fund Commissioner-II vs. Mr. R.Raghavendran, Liquidator of M/s Peejay Agro Foods Pvt.Ltd.

> NCLT judgment dated 2026-10-15. Citation: TCN-2026-NCLT-01223. The Regional Provident Fund Commissioner-II (Appellant) filed an appeal under Section 42 of the…

- **Court:** NCLT
- **Order date:** 15 Oct 2026
- **Citation:** TCN-2026-NCLT-01223
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-kochi/peejay-agro-foods-private-limited-0h09j

## Summary

### Background

The Regional Provident Fund Commissioner-II (Appellant) filed an appeal under Section 42 of the Insolvency and Bankruptcy Code, 2016, challenging the Liquidator's (Respondent) rejection of its claim for provident fund dues against M/s Peejay Agro Foods Pvt. Ltd. (Corporate Debtor). The Corporate Debtor was initially a partnership firm, later reconstituted as a private limited company. Provident fund contributions were remitted until May 2018. Corporate Insolvency Resolution Process (CIRP) was initiated on 28.05.2025, and liquidation on 25.02.2026. The Appellant's claim for Rs.97,55,998/- (later revised to Rs.59,46,120/-) was rejected by the Liquidator on the grounds that it was based on estimated/notional calculations, not crystallised, and there was no legal proof of

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## Facts

The Regional Provident Fund Commissioner-II (Appellant) filed an appeal under Section 42 of the Insolvency and Bankruptcy Code, 2016.

The appeal challenges the Liquidator's rejection of the Appellant's claim for provident fund dues.

M/s Peejay Agro Foods Pvt. Ltd. (Corporate Debtor) was originally a partnership firm covered under the Employees' Provident Funds and Miscellaneous Provisions Act, 1952, from 01.04.2011.

The partnership firm was subsequently reconstituted and incorporated as a private limited company (M/s Peejay Agro Foods Pvt. Ltd.) with effect from 17.04.2013.

Provident fund contributions were remitted up to May 2018, with the last remittance being Rs.1,12,813/- for May 2018.

The company ceased operations in 2020 due to the COVID-19 pandemic.

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## Issues and analysis

### Issue 1: Whether the claim for provident fund dues, based on notional calculations and without prior …

**Ratio:** Claims based on assumptions, whims, or personal biases are not admissible. Only

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**Reasoning:** The Appellant's claim was founded entirely on provisional and notional calculations made

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**Interpretation:** The broad definition of 'claim' under IBC Section 3(6) does not negate the

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**Application:** The NCLT applied this principle to reject the Appellant's claim, as it was not

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## Parties

- **Judges:** Shri. Vina…; SHRI. RAVICHANDRAN…
- **Appellants:** The Regional…; The Regional…
- **Respondents:** M/s Peejay Agro…; R.Raghavendran,…
- **Other parties:** Sri. Padm…; Sri. Josh…; +4 more
- **Advocates:** Mr Sajeev Kumar K…; Vinod…

## Timeline

- **2011-04-01 — Partnership Fir…**: M/s Peejay Agro Foods (partnership firm) was covered under the Employees' Provident Funds…
- **2013-04-17 — Reconstitution as…**: The partnership firm was reconstituted and incorporated as a private limited company, M/s…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 42 — Appeal against the decision of liquidator](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-42)

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