In the matter of Nexrise Publications Pvt Ltd - IBC law is very clear that all the members who have filed the claim and are part of CIRP are required to pay CIRP costs in proportion to their respective voting share and therefore there is no question of non-payment of CIRP dues by EPFO.

 NCLT Chennai-II (2025.06.06) in the matter of Nexrise Publications Pvt Ltd [IA(IBC)/1896/CHE/2024 IN CP(IB)/62(CHE)2023] 

• However the fact remains that CIRP costs are payable irrespective of any recoveries and the party cannot take shelter that they will not pay CIRP cost.

• IBC law is very clear that all the members who have filed the claim and are part of CIRP are required to pay CIRP costs in proportion to their respective voting share and therefore there is no question of non-payment of CIRP dues by EPFO.

• Chandra Publishers are not present in spite of specific direction and therefore bailable warrant is issued to Yesudian Jayachandra W/o – Yesudian, Chandra Publishers,

Excerpts of the order;

209.a.IA(IBC)/1896/CHE/2024 IN CP(IB)/62(CHE)2023

• Ld. Counsel Mr. Arjun Makuny is present for RP.

• Ld. Counsel Mr. Alagu Narayanan is present for VK Industries.

• Ld. Counsel Mr.S.Sriraman is present for the original Operational Creditor in the main CP.

• Ld. Counsel Mr.M.S.Viswanathan for EPFO.

• Ld. RP is present in person.

• Ld. Counsel Mr. Alagu Narayanan present for VK Industries stated that they had made the payment.

• - Mr. Kumar, Accountant, Rathna Offset partners is present and stated that he would be making the payment by Monday, 09.06.2025.

Ms. Almina Shaikh representing Repro India Ltd stated that since they have not recovered anything from CIRP process they would not be in a position to make any payment. However the fact remains that CIRP costs are payable irrespective of any recoveries and the party cannot take shelter that they will not pay CIRP cost. Therefore Repro India Ltd is directed to make payment within a week and file compliance memo failing which contempt proceedings will be initiated.

Counsel for EPFO stated that he has filed reply and they would not be making the payment as they are dealing with 3rd party assets. IBC law is very clear that all the members who have filed the claim and are part of CIRP are required to pay CIRP costs in proportion to their respective voting share and therefore there is no question of non-payment of CIRP dues by EPFO. We have also made it very clear on 07.03.2025 in our daily order to make the payment within 4 weeks and the same has not been complied by EPFO till date. Therefore EPFO has wilfully disobeyed the directions of this Court and EPFO is directed to make the payment within a week and file compliance memo failing which contempt proceedings will be initiated.

Chandra Publishers are not present in spite of specific direction and therefore bailable warrant is issued to Yesudian Jayachandra W/o – Yesudian, Chandra Publishers, New No. 5, Old No. 27, Sanjeevi Street, Arumbakkam, Tamil Nadu.Registry is directed to issue bailable warrant to Yesudian Jayachandra W/o – Yesudian, Chandra Publishers, New No. 5, Old No. 27, Sanjeevi Street, Arumbakkam, Tamil Nadu and SHO of K8 Arumbakkam Police Station, MMDA Colony, Water Tank Rd, MMDA Colony, Balavinayagar Nagar, Chennai, Tamil Nadu 600106 is directed to execute the bailable warrant.

List the Application for hearing on 04.07.2025.

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