The National Company Law Appellate Tribunal (NCLAT) upholds orders regarding provident fund (PF) and gratuity dues for former Jet Airways employees, according to multiple reports. The tribunal rejects an appeal filed by the State Bank of India (SBI), thereby maintaining the relief granted to the employees in the resolution-related process. The NCLAT ruling affirms that the employees’ statutory benefits—PF and gratuity—are to be paid as determined by the prior order, and that the employees are not required to compete with banks and other creditors for these specific dues. The decision is described as ensuring that former staff members receive the benefits owed to them without being placed on the same footing as secured lenders and other creditor categories in the liquidation or resolution framework. By dismissing SBI’s challenge, the tribunal leaves the earlier treatment of PF and gratuity intact, reinforcing the employees’ claims within the insolvency proceedings associated with Jet Airways. The reports focus on the appellate outcome and its effect on priority and eligibility for the employees’ PF and gratuity payments.
NCLAT upholds Jet Airways employees’ PF and gratuity dues, rejects SBI’s appeal
The National Company Law Appellate Tribunal (NCLAT) upholds orders regarding provident fund (PF) and gratuity dues for former Jet Airways employees, according to multiple reports. The tribunal rejects...
- NCLAT upholds PF and gratuity dues for former Jet Airways employees.
- The tribunal rejects an appeal by State Bank of India (SBI).
- The ruling keeps earlier orders on how employees’ PF and gratuity are to be treated.
- The employees are not required to compete with banks and other creditors for PF and gratuity dues.
- The decision concerns insolvency/resolution proceedings related to Jet Airways.
Ruling ensures former employees need not compete with banks and other creditors for their PF and gratuity dues
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