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2023 (6) TMI 957 - AT - Insolvency and BankruptcyAdmission of the claim only to the extent of 35.13% - inclusion of this amount in the Resolution Plan - It is submitted by the Learned Counsel for the Appellant that the RP had classified them as Operational Creditors without approving the Notice of the Adjudicating Authority - waterfall mechanism provided under Section 53 of I&B Code - HELD THAT:- In the Judgment of 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], a clear direction was given to the Successful Resolution Applicant to make payment of the admitted Claims towards Provident Fund dues and the same was upheld by the Hon’ble Apex Court in JALAN FRITSCH CONSORTIUM VERSUS REGIONAL PROVIDENT FUND COMMISSIONER & ANR. [2023 (3) TMI 223 - SUPREME COURT]. The Hon’ble Apex Court has laid down that the share of workmen dues shall be kept outside the ‘Liquidation assets and the concerned workmen / Employees shall have to be paid the same, out of such Provident fund, Gratuity Fund, if any available. The words, ‘if any available’, cannot be read to mean that the workmen and empolyees are not entitled for Provident fund, Gratuity Fund, Pension fund, if not available with the Liquidator. As ratio of the Judgement in Jet Aircraft Maintenance Engineers Welfare Association Vs. Ashish Chhawchharia, Resolution Professional of Jet Airways (India) Ltd. & Ors. of this Tribunal was upheld by the Hon’ble Apex Court, this Tribunal is of the earnest view that both Provident Fund and Gratuity Fund is to be paid in full as per the Provisions of EPF and NP Act, 1952 and Payment of Gratuity Act, 1972. Appeal allowed with a direction to include these amounts in the Resolution Plan.
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