Employees Provident Fund Organisation Vs Subhlaxmi Investment Advisory Pvt. Ltd. (NCLAT Delhi)
The appeal was filed under Section 61 of the Insolvency and Bankruptcy Code, 2006 (IBC) against the order dated 28.03.2025 passed by the National Company Law Tribunal, Cuttack Bench, approving a Resolution Plan in respect of the Corporate Debtor, M/s Metistech Fabrication Private Limited. The Appellant challenged the approval primarily on the ground that against its claimed provident fund dues of ₹18,33,528/-, the Resolution Plan provided only ₹5,000/-, allegedly because no proper claim was submitted.
The Corporate Insolvency Resolution Process (CIRP) commenced on 01.11.2023. The Resolution Professional (RP) issued Form A on 03.11.2023 inviting claims and informed the Appellant on 21.11.2023 regarding initiation of CIRP and the moratorium under Section 14 of the Code. On 22.12.2023, the Appellant filed a claim of ₹50,676/- in letter form, not in the prescribed format, stating that the dues were not financial or operational debt and related to damages, interest, and short remittances. On the same day, the RP requested submission in the proper format with supporting documents.
Subsequently, based on inspection by its Enforcement Officer, the Appellant reported dues of ₹8,12,760/- and later crystallised a demand of ₹18,33,528/- (₹8,12,760/- under Section 7A and ₹9,70,092/- towards interest and damages). These assessments were undertaken after initiation of CIRP and during the moratorium.
