https://www.taxtmi.com/caselaws?id=429908 Provident fund and gratuity dues owed to workmen and employees remain outside the liquidation estate and must be paid in full up to the insolvency commencement date, subject to any amounts already paid under the resolution plan. CIRP-period wages qualify as insolvency resolution process costs only where the corporate debtor was run as a going concern and the relevant employees actually worked; claims beyond the retained team were not covered. The resolution plan had to satisfy the minimum liquidation value disclosed in the record for workmen and employees, and the demerger-based transfer of employees did not amount to illegal retrenchment on the material shown. Secured creditor distribution was linked to the admitted debt, not merely the security value, and GST dues did not create secured priority against the insolvency framework. en-us Fri, 21 Oct 2022 00:00:00 +0530 Tue, 13 Dec 2022 16:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=429908 Provident fund and gratuity dues owed to workmen and employees remain outside the liquidation estate and must be paid in full up to the insolvency commencement date, subject to any amounts already paid under the resolution plan. CIRP-period wages qualify as insolvency resolution process costs only where the corporate debtor was run as a going concern and the relevant employees actually worked; claims beyond the retained team were not covered. The resolution plan had to satisfy the minimum liquidation value disclosed in the record for workmen and employees, and the demerger-based transfer of employees did not amount to illegal retrenchment on the material shown. Secured creditor distribution was linked to the admitted debt, not merely the security value, and GST dues did not create secured priority against the insolvency framework. Case-Laws Insolvency and Bankruptcy Fri, 21 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=429908