Workmen's Dues Prioritized in CIRP: Provident, Pension, and Gratuity Funds Excluded from Liquidation Estate u/s 53.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Initiation of CIRP - Liquidation process - preference of workmen for payment of dues - the provident fund, the pension fund and the gratuity fund do not come within the meaning of ‘liquidation estate’ for the purpose of distribution of assets u/s 53.....