The National Company Law Tribunal (NCLT), Kochi Bench of Shri Vinay Goel (Judicial Member) and Smt. Madhu Sinha (Technical Member) has held that once claims are filed before the Liquidator, the Liquidator is obligated under Section 40 of the IBC to either accept or reject them. The Liquidator cannot direct the claimant to approach the Adjudicating Authority without first applying his mind, as such conduct amounts to a serious procedural lapse.
The present application has been filed under section 60(5) of the Insolvency and Bankruptcy Code, 2016 (IBC) to seek modification of the stakeholders’ list and include additional claims of the Regional Provident Fund Organisation (EPFO). It is prayed that the claims of the Applicant…