JUDGMENT

Petitioner is a public sector undertaking carrying on the business of automobile manufacturing and is covered under the provisions of Employees Provident Fund and Miscellaneous Provisions Act, 1952 (hereinafter referred to as 'the Act') and therefore, assigned a code. It is stated that there were a losses from year to year and for the year ending March 2021, it was of 7.25 Crores as evident from Exts.P1 to P8 balance sheets. In this process, a liability to the tune of Rs.5,90,24,983/- accrued towards the EPF contribution on account of non-deposit of the contribution in time. When proceedings, for assessment, were initiated, the balance sheet was brought to the notice of the assessing officer, but of no avail. The respondents initiated steps under Section 8F of the Act by attaching the account of the petitioner. An application has been moved on behalf of the trade union on the ground that owing to the attachment order, they have not been paid their salary. The amount lying in the Bank is about Rupees Two Crores. If the amount is adjusted, the balance amount can be paid towards the salaries as concerted efforts are being made for improving the financial condition.

2. Learned