Workmen dues cannot be a part of liquidation estate assets: NCLT

Alchemist Asset Reconstruction Co. Ltd. Vs. Moser Baer India Limited (NCLT Delhi, Principal Bench)

Under Section 36(4) (a) (III), the expression ‘liquidation estate’ has been defined and it is clarified that all sums due to any workman or employee from the provident fund, pension fund and gratuity fund, were not to constitute and included in the expression “liquidation estate assets”. Once the sum due to any workman or employee from the provident fund, pension fund and gratuity fund are not constitute

Please become a Premium member. If you are already a Premium member, login here to access the full content.