2022 (9) TMI 1400 - SCH - Insolvency and Bankruptcy

Validity of approved Resolution Plan - it is alleged that the Resolution Plan fails to consider the payment of provident fund dues as computed by the Assistant Provident Fund Commissioner NCLAT decided partly in favor of appellant stating that, Since no provisions of the above said Act is in conflict with any of the provisions of the I B Code, the applicability of even Section 238 of the I B Code does not arise. PF dues are not the assets of the CD as amply made clear by the provisions of Section 36(4)(a)(iii) of the I B Code, 2016 SC dismissed the appeal. However, the appellant is permitted to make a request before the appropriate forum, to provide sometime for the deposit of the difference of the provident fund.

Summary

The Supreme Court dismissed the Civil Appeal as it found no merits in the appeal. The appellant is allowed to request for time to deposit the difference of the provident fund.