Insolvency Cases: Prioritize Workmen's Dues Under EPF Act and Section 34(4)(a)(iii) Before Other Claims.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Distribution of assets - Workmen dues - by virtue of EPF Act and section 34(4)(a)(iii) of the Code, the charge will remain in force against the assets of the corporate debtor until it has been paid off before making any payment to any entity falling under waterfall mechanism devised u/s 53 of the Code - Liquidator to pay off the PF dues in priority to all other claims payable by the Corporate Debtor in liquidation....