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NATIONAL COMPANY LAW TRIBUNAL
DR. VENKATA RAMAKRISHNA BADARINATH NANDULA, SH. CHARAN SINGH, JJ
IDBI Bank Ltd – Appellant
Versus
Kanakadhara Ventures Pvt Ltd – Respondent
| Table of Content |
|---|
| 1. application regarding provident fund dues during liquidation. (Para 1 , 2) |
| 2. observation on the application of the waterfall mechanism in relation to epf claims. (Para 5 , 6 , 12 , 14) |
| 3. argument regarding the priority of epfo claims over other debts. (Para 10) |
| 4. court's ruling on the maintainability of epfo's claims in the context of ibc. (Para 18) |
| 5. final decision on the application. (Para 19) |
ORDER
1. This is an application filed by the Applicant/Employees Provident Fund Organisation Under Regulation 12(2) of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 read with Section 60(5), 87(1) (a) & (c), 88 of IB Code, 2016 seeking following reliefs:
a) To set aside the Rejection Order/ Letter Dated: 29/07/2022 passed by the Liquidator Sri Rajesh Chillale, wherein the Liquidator has rejected the claim made by the Applicant herein in recovering the Provident Fund dues of the bread and butter of the workers of the Corporate Debtor, in the above said CP (IB) No. 745/7/HDB/2018, viz., Kanakadhara Ventures Private Limited, Hyderabad holding that the PF dues need not be paid in priority to all other debts an
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