Supreme Court Emphasizes Importance of Timelines Under IBC, Dismisses Appeal, Highlights Legal Consequences for Delays.

The SC dismissed the EPFO's appeal, underscoring the necessity of adhering to timelines under the IBC. The court highlighted potential legal repercussions for non-compliance but clarified that the decision does not hinder EPFO's ability to pursue actions as permitted by law.

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The Supreme Court of India in 2023 (8) TMI 1402 - SC Order, dismissed the appeal by the Employees Provident Fund Organization (EPFO). The court emphasized the importance of complying with timelines under the Insolvency and Bankruptcy Code, 2016 (IBC) and warned of legal consequences for failure to do so. The court stated that the impugned judgment does not affect EPFO's rights to proceed under the law.

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