TMI Blog2022 (11) TMI 403X X X X Extracts X X X X X X X X Extracts X X X X ..... ELHI] . The above Appeal had been allowed and direction has been issued to Successful Resolution Applicant (SRA) to make the payment of Provident Funds dues in full. The submissions of Learned Counsel for the Respondent that Appeal is barred by time, cannot be accepted. The Appeal has been filed on 28th February, 2022 against the Order dated 3rd January, 2022. The Judgement of the Hon ble Supreme Court in [ 2022 (1) TMI 385 - SC ORDER ] extended the period of limitation till 28th February, 2022 for all Appeals and has further granted 90 days time to file the Appeal. The present Appeal is fully covered by the Judgment of the Hon ble Supreme Court in [ 2022 (1) TMI 385 - SC ORDER ] extending the period of limitation as afore-noted. Thus o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ty ) in I.A. No. 290/KB/2021 in C.P. (IB) No. 1911/KB/2019. 2. Brief facts of the case for deciding this Appeal are:- The Adjudicating Authority vide Order dated 21st January, 2020 initiated Corporate Insolvency Resolution Process (hereinafter referred to as CIRP ) against the Corporate Debtor-HAIL Tea Limited. In pursuance of the Public Announcement, the Appellant-Organization submitted its claim in Form-B for an amount of Rs. 2,10,13,797.92/- on account of default on part of the Corporate Debtor to deposit its Provident Fund Contribution, Provident Fund Administrative Cost, Interest for delay in deposit of the Provident Fund Dues, Interest for delay in deposit of Deposit Linked Insurance Dues and Provident Fund Contributio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s only for 30 days. It is further submitted that approval of the Resolution Plan is in the domain of the commercial wisdom of the Committee of Creditors. Haircut has been given to all the Financial Creditor(s) and Operational Creditor(s). 5. We have considered the submissions of Learned Counsel for the parties and have perused the record. 6. There is no dispute between the parties regarding the amount of claim admitted by the Resolution Professional as was submitted by the Learned Counsel for the Appellant-Organization. Paragraph 8 of the Judgement gives particulars of dues amount and the amount proposed. In the PF dues, amount mentioned in paragraph 8 of the Judgement is Rs. 2,10,13,798/- whereas total payment proposed in the plan is ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... debt and the Appellant was entitled to receive the amount as secured creditors? 8. The answer to the Question No. XI is in paragraphs 117, 118 and 119 of Judgement dated 21st October, 2022, which is to the following effect: QUESTION - XI 117. In the appeal filed by the Regional Provident Fund Commissioner, it has been pleaded that the claim was filed by the Appellant for an amount of Rs.24,40,65,594/- towards damages under Section 14B of Employees' Provident Funds Miscellaneous Provisions Act 1952, as per the order dated 17.10.2018. It is further mentioned that interest under Section 7Q was also levied of Rs.12,85,92,763/-, which amount was paid by the establishment. The amount which was claimed by the Appellant was ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... preted keeping in view the object of the Act and other provisions contained therein including sub-section (1) of Section 11 and Sections 7A, 7Q, 14B and 15(2) which provide for determination of the dues payable by the employer, liability of the employer to pay interest in case the payment of the amount due is delayed and also pay damages, if there is default in making contribution to the Fund. If any amount payable by the employer becomes due and the same is not paid within the stipulated time, then the employer is required to pay interest in terms of the mandate of Section 7Q. Likewise, default on the employer's part to pay any contribution to the Fund can visit him with the consequence of levy of damages. 119. The above judgmen ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2022 dated 21.10.2022. The above Appeal had been allowed and direction has been issued to Successful Resolution Applicant (SRA) to make the payment of Provident Funds dues in full. 10. The submissions of Learned Counsel for the Respondent that Appeal is barred by time, cannot be accepted. The Appeal has been filed on 28th February, 2022 against the Order dated 3rd January, 2022. The Judgement of the Hon ble Supreme Court in Suo Moto Writ Petition No. 03/2022 extended the period of limitation till 28th February, 2022 for all Appeals and has further granted 90 days time to file the Appeal. The present Appeal is fully covered by the Judgment of the Hon ble Supreme Court in Suo Moto Writ Petition No. 03 of 2022 extending the period of limi ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
