PEOPLES EDUCATION SOCIETY Vs. PARMESHAWAR SAMPAT KHOPE

JUDGEMENT

(1.) This Court has directed respondent no.4 - management to pay the outstanding salaries to the petitioners by the order dated 12. 10.2021. The management - respondent no.4 had requested for termination of the fxed deposit of Rs.20.00 lacs for making the payments of the salaries due.

(2.) By this application, the management - respondent no.4 had submitted that it is an unaided college. Its fnancial condition is not good. However, various term deposits were made with the bank. The term deposit lying with the State Bank of Hyderabad (India) now State Bank of India have been kept on hold as per order of the Assistant Commissioner of Employee's Provident Fund Organization, Regional Office, Aurangabad. The enquiry under Sec. 7(A) is going on by EPFO. Their amount due is to the extent of Rs.16,67,648.00. The enquiry is likely to be completed within four weeks. The dues of provident fund may not be more than Rs.17.00 lacs. One of the term deposit may accrue Rs.36.00 lacs. Another may accrue Rs.25.00 lacs and third one has the maturity amount of Rs.10.00 lacs. The act on the department of the EPFO withholding all these term deposits, is arbitrary and illegal. At the most, they can hold the term deposit to the satisfaction of its dues. Since the Provident Fund Department has directed the bank, the bank is refusing to release the amount. The present applicants want to pay the amount of arrears of salary to the petitioners. At least they may be permitted to terminate one term deposit of Rs.20.00 lacs lying with the State Bank of India dtd. 28/9/2010. It is also been submitted that if the permission is granted to terminate the said term deposit receipt, it would not afect the claim of Provident Fund Department. The applicants have placed on record the communications made by it to the State Bank of India dtd. 21/10/2021, it's communication dtd. 25/10/2021, the copy of the term deposit dtd. 28/9/2010 and the copy of the order of EPFO, Aurangabad dtd. 28/10/2021.

(3.) We have heard the learned counsel for the respective sides.