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TMI Blog2019 (11) TMI 1563X X X X Extracts X X X X X X X X Extracts X X X X ..... the Adjudicating Authority in the impugned order and which observations have been referred above. The order approving the Resolution Plan is not in challenge before us. What was finally included or not included cannot be looked into in the present appeal - Request was made by learned Counsel for the Appellant if in the Resolution Plan there could be assurance of continuation of service but nothing is shown what provides for this. Considering further developments which have taken place, including that application for resorting to liquidation has already been filed, it would not be proper for us to pass any specific order in this appeal - When Resolution Plan is already approved, Appellants may raise issues if Resolution Plan does not tak ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... upply of copies of the petition. The Appellants claimed before the Adjudicating Authority that they are workers of the Corporate Debtor who have been rendering their services and the request was made on behalf of the Workers and Employees. The Appellants claimed that Corporate Debtor had failed to make payment of wages of the workmen. Reference was made to lock out of employees/workers and taking up of the issues in the Industrial Tribunal. The Appellants claim that claims were made before the Resolution Professional. The Appellants put up a claim that ₹ 17 lakhs towards dues of 138 workmen was insufficient; the orders passed under payment of Wages Act were required to be considered; Provident Fund of employees, Gratuity have not been ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... porate Debtors, employee, all stake holders etc. as per Section 31(1) of the Code. It is settled position of law that even the Adjudicating Authority will have power only to direct CoC to reconsider the grievance of other parties, who are not part of CoC, if it finds that those grievances are required to be re-considered again. Basically all issues/claims arise out of CIRP would be decided basing on liquidation value of Assets and Liabilities of Corporate Debtor. Since the CoC has already reconsidered the claims of the applicant vide CoC Meeting dated 15th April, 2019, I cannot entertain the instant application and it is not maintainable and thus it is liable to be disposed of. 7. In the result, I.A. No. 54 of 2019 in C.P.(IB) No. 136/ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f consistency (sic-inconsistency) in any other law for the time being enforced, we hold that section 53(1)(b) read with section 36(4) will have overriding effect on section 326(1)(a), including the Explanation (iv) mentioned below section 326 of the Companies Act, 2013. 24. Once the liquidation estate/assets of the 'Corporate Debtor' under section 36(1) read with section 36(3), do not include all sum due to any workman and employees from the provident fund, the pension fund and the gratuity fund, for the purpose of distribution of assets under section 53, the provident fund, the pension fund and the gratuity fund cannot be included. 25. The Adjudicating Authority having come to such finding that the aforesaid funds i.e., t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... are not held on account of avoidance transactions that may be avoided under this Chapter; (d) assets of any Indian or foreign subsidiary of the corporate debtor; or (e) any other assets as may be specified by the Board, including assets which could be subject to set-off on account of mutual dealings between the corporate debtor and any creditor. It is clear amounts of provident fund, pension fund and gratuity funds belong to employees and cannot for part of liquidation asset. 8. The present impugned order is partly in the nature of giving direction to the Resolution Professional and Resolution Applicant to consider the aspects as pointed out by the Adjudicating Authority in the impugned order and which observations have be ..... X X X X Extracts X X X X X X X X Extracts X X X X
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