AUTHORISED OFFICER Vs. EMPLOYEES' PROVIDENT FUND ORGANISATION

JUDGEMENT

(1.) The Writ on hand is filed to quash the order dated 18.01.2011, passed by the Regional Provident Fund Commissioner and Recovery Officer.

(2.) The Writ Petitioner is the Authorized Officer Attorney of Indian Overseas Bank. The Petitioner challenges the order of the 2nd Respondent declaring the Writ Petitioner as a "Deemed Defaulter"? and directing the petitioner to remit a sum of Rs. 8,20,91,568/- on or before 2nd February, 2011.

(3.) The 3rd Respondent M/s. Uma Maheswari Mills Limited (Company Liquidation), availed various credit facilities and loans such as Open Cash Credit Limit, Term Loan, Purchase of Bills under letter of credit limit, etc., from the petitioner. The factory land and the building, entire stocks and part of plant and machinery belonging to the said Company have been mortgaged/hypothecated to the petitioner to secure the dues in the said loan accounts. The charges over the said secured assets have been duly registered with the Registrar of Companies.