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Provident fund, Pension fund and Gratuity are not included in liquidation of assets: NCLAT

August 20, 2019[2019] 108 taxmann.com 251 (NCLAT- New Delhi)
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IBC : In terms of section 36, liquidation estate/assets of corporate debtor do not include all sum due to any workman and employees from provident fund, pension fund and gratuity fund and, therefore, for purpose of distribution of assets under section 53, provident fund, pension fund and gratuity fund cannot be included

• Where NCLT came to a finding that funds i.e., provident fund, pension fund and gratuity fund did not come within meaning of 'liquidation estate' for purpose of distribution of assets under section 53, impugned order was not to be interfered with.

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