PF Dues are not the Assets of Corporate Debtor (CD): NCLAT

Sikander Singh Jamuwal Vs Vinay Talwar (NCLAT Delhi) What is very much clear from the submissions made by the Ld counsel for the parties and the documents available on record that the Resolution Plan fails to consider the payment of provident fund dues as computed by the Assistant Provident Fund Commissioner vide its order dated 19th March, 2019. The Resolution Plan approved by the Adjudicating Authority is on 02nd April, 2019. The amount so computed is Rs.1,35,06,391/- whereas the provisions has been made for Rs.78 lacs only. Financial Creditors are being paid 21.6% whereas Operational credit...