2023 (3) TMI 223 - SC - Insolvency and Bankruptcy

Seeking Approval of Resolution Plan - HELD THAT - There are no error in the order of the National Company Law Appellate Tribunal in JET AIRCRAFT MAINTENANCE ENGINEERS WELFARE ASSOCIATION VERSUS ASHISH CHHAWCHHARIA RESOLUTION PROFESSIONAL OF JET AIRWAYS (INDIA) LTD. ORS; ASSOCIATION OF AGGRIEVED WORKMEN OF JET AIRWAYS (INDIA) LTD. VERSUS JET AIRWAYS (INDIA) LTD. ORS. 2022 (11) TMI 332 - NATIONAL COMPANY LAW APPELLATE TRIBUNAL, PRINCIPAL BENCH, NEW DELHI where it was held that Non-payment of full provident fund amount to the workmen and employees and the gratuity payment till the insolvency commencement date amounts to non-compliance of provisions of Section 30(2)(e) of the Code. However, in the facts of the present case, all other parts of the Resolution Plan have not been found to infirm in any manner, there are no case for interfering with the order approving the Resolution Plan. Appeal dismissed.

Summary

The Supreme Court of India upheld the order of the National Company Law Appellate Tribunal in Company Appeal (AT) (Ins) Nos 987, 643, 801, 915 and 771 of 2022. The appeals were dismissed, and any pending application was disposed of.