https://www.taxtmi.com/caselaws?id=466138 Interpretation of Section 11(2) confirms that any amount due from an employer constitutes a statutory first charge on the assets of an establishment, and that this charge includes interest and damages arising from delayed or defaulted provident fund contributions; consequence: such dues rank in priority over secured and unsecured creditors. Deeds of pledge creating a special property in pledged goods do not necessarily transfer ownership; consequence: pledged goods may be subject to statutory charge if title effectively remains with the pledgor. Provisions of the Essential Commodities regime and scheduled bank status do not displace the statutory priority accorded to provident fund dues. en-us Mon, 01 Jul 2013 00:00:00 +0530 Tue, 27 Jan 2026 17:33:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=466138 Interpretation of Section 11(2) confirms that any amount due from an employer constitutes a statutory first charge on the assets of an establishment, and that this charge includes interest and damages arising from delayed or defaulted provident fund contributions; consequence: such dues rank in priority over secured and unsecured creditors. Deeds of pledge creating a special property in pledged goods do not necessarily transfer ownership; consequence: pledged goods may be subject to statutory charge if title effectively remains with the pledgor. Provisions of the Essential Commodities regime and scheduled bank status do not displace the statutory priority accorded to provident fund dues. Case-Laws Indian Laws Mon, 01 Jul 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=466138