https://www.taxtmi.com/caselaws?id=755542 The NCLAT dismissed an appeal regarding distribution of provident fund dues under the Insolvency and Bankruptcy Code. The tribunal held that provident fund, pension fund, and gratuity fund dues are excluded from liquidation estate assets under Section 36(4)(iii) and must be paid to workmen/employees on priority basis without following the waterfall mechanism under Section 53. The EPFO's claims including contributions, interest, and damages under the EPF Act are to be treated as extended parts of contribution and fall outside the liquidation estate, requiring preferential payment to workers. en-us Wed, 10 Jul 2024 00:00:00 +0530 Sat, 13 Jul 2024 12:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=755542 The NCLAT dismissed an appeal regarding distribution of provident fund dues under the Insolvency and Bankruptcy Code. The tribunal held that provident fund, pension fund, and gratuity fund dues are excluded from liquidation estate assets under Section 36(4)(iii) and must be paid to workmen/employees on priority basis without following the waterfall mechanism under Section 53. The EPFO's claims including contributions, interest, and damages under the EPF Act are to be treated as extended parts of contribution and fall outside the liquidation estate, requiring preferential payment to workers. Case-Laws Insolvency and Bankruptcy Wed, 10 Jul 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=755542