2026 (4) TMI 1750

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....f 15 days in filing of the appeal. Sufficient cause has been shown in the application for condonation of delay. Delay condoned. Comp. App. (AT) (Ins) No. 662 of 2026 Heard Ld. Counsel for the Appellant as well as the Respondent (RP). 2. This appeal has been filed against the order dated 12.01.2026 by which order the NCLT, Mumbai Bench has rejected I.A No. 120 of 2026 filed by the Appellant. 3. The Appellant by I.A has made following prayers which are quoted in para 1 of the impugned order:- "(a.) To Direct the Respondent/ RP to accept and allow the entire claim of the Applicant of Rs. 61,36,243/ (Rupees Sixty-one Lakhs Thirty-Six Thousand Two Hundred Forty-Three Only) which includes PF dues Rs. 22,08,789/-, Provisional ....

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....lable on BSE website 'www.bseindia.com'. The undersigned downloaded the Annual Reports which includes Balance Sheet, Profit & Loss Account, Cash flow statements, Directors report and Auditor's report for financial year 2017-18, 2018-19, 2019-20, 2020-21, 2021-22 and 2022-23 available on BSE website. On verification of the financials the following amounts are found booked under expenditure account head 'Salaries & Wages'. Financial Year Amount booked under 'Salaries & Wages' (in Rupees) 2017-18 38,06,369.00 2018-19 36,54,692.00 2019-20 17,44,771.00 2020-21 - 2021-22 36,540.00 2022-23 56,587.00 It is observed that, although there is a salary & wages expenditure boo....

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....standing Dues 1051416 321553 62158 729863 43799 2208789 Delay in remittance of PF dues is observed, which attracts Penal Damages and 70 interest. Short remittance in Form 24, if any, may be confirmed from Accounts Section. Correspondence with IRP, printout of downloaded Balance Sheets is enclosed herewith. The report is submitted for perusal and further necessary action/directions please." 5. The Adjudicating Authority took the view that any assessment order cannot be passed after initiation of CIRP. 6. Ld. Counsel for the Appellant challenging the order submits that in fact no assessment order was passed on 02.05.2025 as observed by the Adjudicating Authority and on 02.05.2025 only a letter to the ....