https://www.taxtmi.com/caselaws?id=367796 Provident fund, pension fund and gratuity fund dues payable to employees are excluded from the liquidation estate under the Insolvency and Bankruptcy Code and are treated as assets belonging to workmen or employees, not as distributable liquidation assets. Section 53 cannot be used to subordinate these dues to other claims. The Employees' Provident Funds and Miscellaneous Provisions Act also gives provident fund dues statutory priority and treats them as a first charge on the establishment's assets. On that basis, attachments made by provident fund authorities were not invalid merely because the assets were otherwise charged to secured creditors or because liquidation had commenced; the attachments were liable to be vacated and the liquidator was to pay those dues in priority. en-us Fri, 07 Sep 2018 00:00:00 +0530 Tue, 25 Sep 2018 14:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=367796 Provident fund, pension fund and gratuity fund dues payable to employees are excluded from the liquidation estate under the Insolvency and Bankruptcy Code and are treated as assets belonging to workmen or employees, not as distributable liquidation assets. Section 53 cannot be used to subordinate these dues to other claims. The Employees' Provident Funds and Miscellaneous Provisions Act also gives provident fund dues statutory priority and treats them as a first charge on the establishment's assets. On that basis, attachments made by provident fund authorities were not invalid merely because the assets were otherwise charged to secured creditors or because liquidation had commenced; the attachments were liable to be vacated and the liquidator was to pay those dues in priority. Case-Laws Insolvency and Bankruptcy Fri, 07 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=367796