Ambient Computronics Pvt. Ltd.

The law as it exists today does not oblige the IRP/RP to send any information to any creditor or statutory authority even if the records of the Corporate Debtor reflect any liabilities of the Corporate Debtor towards them – Employees Provident Fund Organisation Vs. Mr. Subodh Kumar Agarwal RP Ambient Computronics Pvt. Ltd. – NCLAT New Delhi

NCLAT held that it is the statutory obligation of the Corporate Debtor to contribute to the dues of workmen and employees towards the provident fund, the pension fund and the gratuity fund. If above funds are deficient or the Corporate Debtor has failed to perform its statutory obligation, it is the Corporate Debtor who has to make payment towards the above funds which amounts have to be kept out of the liquidation assets. Although Section 18 of the Code uses the expression “collate all the claims” but the said expressions being followed by the words “submitted by creditors”, the Resolution Professional is entitled to contend that unless the claim is received by him, he has no obligation to include it in the list of claims or even the Information Memorandum. It is the statutory obligation of the Corporate Debtor to contribute to the dues of workmen and employees towards the provident fund, the pension fund and the gratuity fund. If above funds are deficient or the Corporate Debtor has failed to perform its statutory obligation, it is the Corporate Debtor who has to make payment towards the above funds which amounts have to be kept out of the liquidation assets.

The law as it exists today does not oblige the IRP/RP to send any information to any creditor or statutory authority even if the records of the Corporate Debtor reflect any liabilities of the Corporate Debtor towards them – Employees Provident Fund Organisation Vs. Mr. Subodh Kumar Agarwal RP Ambient Computronics Pvt. Ltd. – NCLAT New Delhi Read Post »

The internal disputes of the directors would not be relevant for throwing out of the Application under Section 9 of IBC, 2016 – Switching AVO Electro Power Ltd. Vs. Ambient Computronics Pvt. Ltd. – NCLAT New Delhi

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The internal disputes of the directors would not be relevant for throwing out of the Application under Section 9 of IBC, 2016 – Switching AVO Electro Power Ltd. Vs. Ambient Computronics Pvt. Ltd. – NCLAT New Delhi Read Post »

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