Claims filed post-moratorium under the IBC are inadmissible and cannot be considered, irrespective of statutory due priorities.

ORDER

IA (IBC) NO. 3534 OF 2025

1. This I.A. is filed by The Central Board of Trustees, EPFO (“the Applicant”) under Section 60 (5) of the Insolvency and Bankruptcy Code, 2016 (“IBC/the Code”) with the following prayers:

a. That this Hon'ble Tribunal be pleased to condone the delay of 348 days in filing the Claim by the Applicant.

b. That this Hon'ble Tribunal pleased to pass an order and direct the Respondent being Resolution professional to admit and pay the statutory dues for an amount of Rs. 20,34,412/- (Rupees Twenty Lakhs Thirty-Four Thousand Four Hundred and Twelve Only) to the applicant.

c. Any other order that this Hon'ble Tribunal may deem fit in the facts and circumstances of this case. Brief Facts as per the Application:

2. The Adjudicating Authority vide order dated 10.11.2023 in CP No.299/(IB)-MB-V/2023, admitted the Company Petition under Section 7 of the Insolvency and Bankruptcy Code, 2016 (“the Code”) filed by Axis Bank Limited (“Financial Creditor”) for initiation of Corporate Insolvency Resolution Process (“CIRP”) of the M/s. Vin Semiconductors Private Limited (“Corporate Debtor”). Pursuant to the said order, Mr. Prashant Jain (“Respondent/ Interim Resolution Professional”) was appointed as the Interim Resolution Professional for conducting CIRP proceedings of the Corporate Debtor.

3. The Resolution Professional issued public announcement in Form A on 13.11.2023 informing the initiation of the CIRP of the Corporate Debtor and invited claims from the creditors of the Corporate Debtor, fixing 24.11.2023 as the last date of filing claims. The Committee of Creditors (“CoC”) was constituted on 14.12.2023. The e-voting on the Resolution Plan submitted by Prospective Resolution Applicants (PRAs commenced on 14.10.2024 at 5:30 PM and concluded on 21.12.2024 at 11:59 PM.

4. The Central Board of Trustees, EPFO (“the Applicant”) filed its claim for an amount of Rs. 20,34,412/- vide letter dated 28.10.2024, which was received by the Resolution Professional through email on 05.11.2024. However, vide email dated 14.11.2024, the Resolution Professional informed the Applicant that the claim could not be accepted as it was filed after the last date for submission of claims, i.e. 24.11.2023.

5. The present IA dated 04.01.2025 has been filed under Section 60 (5) of the Code by The Central Board of Trustees, EPFO seeking condonation of delay of 348 days in filing the claim in the CIRP of the Corporate Debtor.

Submissions of the Applicant, in brief:

6. The Corporate Debtor is covered under the Employees' Provident Funds & Miscellaneous Provisions Act, 1952 under EPF Code No. TH/THA/203255 having its address at 306/307, Marathon Max, LBS Marg, Opposite Nirmal Lifestyle, Mulund (West), Mumbai – 400080. The Corporate Debtor has defaulted in remittance of Statutory Provident Fund and allied dues under Section 7A , 7Q, 14B of Employees’ Provident Funds & Miscellaneous Provisions Act 1952 (“EPF&MP”) of Rs 20,34,412/-.

7. Consequent to the Resolution Professional making public announcement on 13.11.2023, the Zonal Office Thane intimated the Applicant via email dated 23.11.2023 regarding the initiation of the CIRP in respect of the Corporate Debtor. Thereafter, the Applicant initiated the determination of dues by visiting the office of the Corporate Debtor and examining the records and documents available and submitted by the Corporate Debtor. The Area Enforcement Officer submitted an interim report before the Applicant’s Department on 02.04.2024.

8. The Applicant further submits that the Corporate Debtor via email forwarded the soft copy of the salary sheet for period April, 2022 to December, 2023 in response to the visit at the office on 13.06.2024. Further, the Respondent forwarded the balance sheet for year 2022- 2023, Co