Salary of employees can be included in CIRP costs: SC

Sunil Kumar Jian and Others Vs Sundaresh Bhatt and Others (Supreme Court) Whether the amounts of provident fund, gratuity, and pension fund should be separated from the liquidation and other rights of workmen in liquidation process The Hon’ble Supreme Court in the case of Sunil Kumar Jian and Others v. Sundaresh Bhatt and Others (decided on April 19, 2022), allowed the appeal, and held that, the salaries of employees can be included in the corporate insolvency resolution process (“CIRP”) costs during CIRP proceedings, and the provident, gratuity & pension funds should be kept out of ...