Demand made by EPFO levying of liquidated damages & penalty/penal interest during the period of moratorium is not allowable under the provisions of the IBC – Shri Vijay P Luna, Liquidator of M/s. Bhuvana Infra Projects Pvt. Ltd. Vs. Axis Bank Ltd. – NCLT Bengaluru Bench
This IA filed by the Liquidator by seeking to instruct the Respondent No. 1 to remit the amount of Rs.1,92,901/- from the current account of Corporate Debtor by way of DD in favour of Regional Provident Fund Commissioner, Bengaluru (Koramangala) along with the Bank Charges of Rs. 55,325/- incorrectly levied by the Respondent No. 1; and also waiver of penal damages and interest charged by the EPFO during the Liquidation period.