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The Workmen And Employees Will Be Entitled To Provident Fund And Gratuity Until The Commencement Of The Liquidation Proceedings

By - King Stubb & Kasiva on November 18, 2022

The National Company Law Appellate Tribunal (the “NCLAT”) while deciding an appeal filed by the workmen and employees of Jet Airways India Limited (corporate-debtor) challenging the resolution plan submitted by Jalan Fritsech Consortium with regard to the corporate debtor has held that the payments towards provident fund, pension fund and gratuity due to workmen and employees should not be used for recovery in liquidation for dues of other creditors since those dues are exclusive to workmen and employees. NCLAT further held that the payment of unpaid provident fund and gratuity to the workmen is to be made till the date of commencement of insolvency proceedings.

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