Central Government hereby notifies that the sum to which priority shall be given under clause (b) of sub section (1) of section 530, shall not in case of any one claimant, exceed the sum of Rs. 20,000/- Only - G.S.R.80 (E). - Companies Law
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Priority claim cap under section 530 limits per-claimant priority entitlement; notification prescribes statutory ceiling effective March. Central Government, exercising the power under sub section (2) of section 530 of the Companies Act, notifies a per claimant ceiling on the sum to which priority shall be given under clause (b) of sub section (1) of section 530, thereby fixing the maximum priority amount recoverable by each claimant and limiting priority entitlement under that provision.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Priority claim cap under section 530 limits per-claimant priority entitlement; notification prescribes statutory ceiling effective March.
Central Government, exercising the power under sub section (2) of section 530 of the Companies Act, notifies a per claimant ceiling on the sum to which priority shall be given under clause (b) of sub section (1) of section 530, thereby fixing the maximum priority amount recoverable by each claimant and limiting priority entitlement under that provision.
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