Provident Fund and gratuity dues are statutory liabilities that must be paid in full by a Successful Resolution Applicant, and the 'clean slate' principle under the IBC does not extinguish the obligation to satisfy these welfare-based statutory dues pertaining to the period preceding the commencement of the Corporate Insolvency Resolution Process.

S.No.3

VC AND PHYSICAL (HYBRID) MODE

ATTENDANCE CUM ORDER SHEET OF THE HEARING HELD ON

16-04-2026 AT 12:45 PM

u/s. 9 of IBC, 2016

O R D E R

IA(IBC) 1427/2024

Present: Mr. Vijay Singh, Learned Counsel for the Applicant/SRA.

Mr. MP Kashyap, Learned Counsel for the Respondent/EPFO.

Orders pronounced, recorded vide separate sheets.

In the result, this application is dismissed.

IA (IBC) 1997/2025 in IA 1198/2022

Present: Mr. MP Kashyap, Learned Counsel for the Applicant/EPFO.

Mr. Vijay Singh, Learned Counsel for the Respondent.

Orders pronounced, recorded vide separate sheets.

In the result, this application is disposed of.

IN THE NATIONAL COMPANY LAW TRIBUNAL

HYDERABAD BENCH – I, HYDERABAD

IA (IBC) No. 1427 of 2024

In

CP (IB) No. 17/9/HDB/ 2020

(Under Rule 11 of National Company Law Tribunal Rules, 2016)

In The Matter Of M/s. Sathavahana Ispat Limited.

Between:

Jindal Saw Limited

A-1, Upside Industrial Area,

Nandgaon Road Kosi Kalan, Mathura,

Uttar Pradesh, India - 281403

…Applicant

Versus

Employee Provident Fund Organization

Through Recovery Officer, Regional Office Ballari,

Bhavishya Nidhi Bhavan, Main Road

2nd Stage, Raghvendra Colony, Ballari-583101.

… Respondent

Date : 16.04.2026

Coram:

Sri Rajeev Bhardwaj, Hon’ble Member (Judicial)

Sri Sanjay Puri, Hon’ble Member (Technical)

Parties/Counsels:

For Applicant : Mr. Vijay Singh, Advocate

For Respondent : Mr. MP Kashyap, Advocate

1. The present application is filed by M/s. Jindal Saw Limited¹Applicant, Successful Resolution Applicant of M/s. Sathavahana Ispat Limited²Corporate debtor under Rule 11 of National Company Law Tribunal Rules, 2016, against the Employee Provident Fund Organization³Respondent, inter alia, seeking relief to set aside the order dated 26.06.2024 issued by the recovery officer of Respondent.

Case of the Applicant:

2. It is submitted that this Tribunal, vide order dated 28.07.2021, on an application filed by Thirumala Logistics Pvt. Ltd. under Section 9 of the Code, 2016, whereby the corporate debtor was admitted into the Corporate Insolvency Resolution Process (CIRP) and appointed Mr. Golla Ramakantha Rao as the Interim Resolution Professional, who was subsequently replaced by Mr. Bhuvan Madan as the Resolution Professional vide order passed in IA No. 490 of 2021.

3. It is submitted that the Interim Resolution Professional has issued a public announcement on 07.08.2021 and invited claims from the creditors. The Respondent filed its claims in Form-F vide letters dated 30.08.2021 and 18.02.2022.

4. It is further submitted that the Resolution Professional filed an application IA No. 1198 of 2022 seeking approval of the Resolution Plan submitted by the Applicant, which was approved by this Tribunal vide order dated 31.03.2023, being in compliance with Sections 30(2) and 31 of the Code and providing for fair and equitable treatment to the Operational Creditors.

5. Pursuant thereto, the Resolution Professional, vide letter dated 07.06.2023, informed the Respondent of the approval of the Resolution Plan and the amount payable thereunder, and accordingly, a sum of Rs. 93,99,887/- was paid to the Respondent in terms of the approved Resolution Plan.

6. Aggrieved by the approval of the Resolution Plan, the Respondent preferred an appeal before the Hon’ble NCLAT, Chennai, which came to be dismissed as withdrawn vide order dated 20.09.2023.

7. Thereafter, upon implementation of the Resolution Plan and completion of payments thereunder, all claims stood crystallized and dealt with in terms of the approved resolution plan.