In the matter of Rakesh Kumar Vs. Sanjay Gupta of AAA Insolvency Professionals LLP, Being Liquidator of Samtel Color Ltd. CA(AT)(Ins)No. 783 of 2019

In the matter of Rakesh Kumar Vs. Sanjay Gupta of AAA Insolvency Professionals LLP, Being Liquidator of Samtel Color Ltd. CA(AT)(Ins)No. 783 of 2019

Insolvency & Bankruptcy

It is further stated that actually these amounts are deposited through LIC by way of Bank premium. However, we are not inclined to deliberate on the issue as to how it will be deposited if the Liquidator will take up the matter with the LIC and ensure that the admitted amounts are paid in the appropriate funds preferably within one month.

Learned counsel appearing on behalf of the Liquidator submits that the Liquidator is in the process of verifying the claim of employees as regards the payment towards ‘Pension Fund’, ‘Gratuity Fund’ and the ‘Provident Fund’ and soon thereafter will deposit the same.


It is further stated that actually these amounts are deposited through LIC by way of Bank premium. However, we are not inclined to deliberate on the issue as to how it will be deposited if the Liquidator will take up the matter with the LIC and ensure that the admitted amounts are paid in the appropriate funds preferably within one month.


The appeal stands disposed of with aforesaid observations and directions. No costs.




(Justice S.J. Mukhopadhaya)


Chairperson



(Justice Bansi Lal Bhat)


Member(Judicial)

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