The Managing Director/Joint Registrar vs P.Muniyasamy ... 1St
7. The learned counsel for the appellants submitted that the provident fund
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W.A.(MD) No.1401 of 2021
amount payable to an employee cannot be attached only as long as it retains
the character of provident fund, and once it is credited into the savings bank
account of the employee, it loses the character as 'provident fund' and it
becomes his personal amount. In other words, when the provident fund
amount is in the hands of the trustees of the provident fund, it cannot be
attached as in a garnishee proceedings, but when it leaves the hands of the
trustees of the provident fund, then it loses the very character as 'provident
fund'. Reliance was placed on the ratio in M.Ravikumar Vs Registrar of
Co-operative Societies and others [W.A.No.2362 of 2019, dated 13.04.2022]
and Indian Overseas Bank vs. S.Mohammad Anis [Regular Second Appeal
No.5344 of 2009, dated 22.11.2023].