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of <h1>Statutory contributions declared charge on establishment assets, take priority in insolvency proceedings effective 21 November 2025</h1> Any amount due under this Chapter is declared a charge on the assets of the relevant establishment and must be paid in priority in accordance with the Insolvency and Bankruptcy Code, 2016 (IBC); consequently, contributions rank ahead of other creditors in insolvency proceedings and attach to establishment assets for recovery. The provision takes effect from 21-11-2025, making statutory contributions enforceable with priority in insolvency and bankruptcy processes from that date.
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