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2019 (2) TMI 602 - Tri - Insolvency and BankruptcySeeking waiver of penal damages - Scheme approved by the BIFR - Held that:- When the matter is pending before this Tribunal it was brought to the notice of the Tribunal that request for waiver is pending for consideration. If it is pending, then the Central Provident Fund Commissioner cum Secretary to process it expeditiously and communicate the order if any passed thereon to the Petitioner since order of attachment over the immovable property is pending and also lien is pending in the account. The CPFC to consider the request of the Petitioner. In the light of the Scheme approved by the BIFR and pass suitable order. However, if no application is pending for waiver then intimation be given to the Petitioner to submit fresh application and the same may be considered as expeditiously as possible and communicate the order to be passed thereon. The Petitioner already paid PF dues and also interest thereon. The amount due is with reference to the penal damages as M/s POL, the original company became sick and MRS was approved by BIFR. The CPFC may take appropriate decision and communicate the same. So with these observations, the Petition can be disposed of:- (a)The CPFC i.e. Central Provident Fund Commissioner to consider if the Application filed by Petitioner seeking waiver of penal damages basing on the approved MRS which was sanctioned by BIFR, if pending and decide expeditiously. (b)If no Application is pending as contended in the counter, the CPFC is directed to inform the Petitioner of the same and further direct the Petitioner to file fresh Application for waiver for consideration so as to enable the Petitioner to take appropriate decision basing on the order to be passed by Central Provident Fund Commissioner on the Application filed for waiver.
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