https://www.taxtmi.com/caselaws?id=96548 In company winding up, questions of priority among debts are governed by section 230 of the Indian Companies Act rather than section 61 of the Provincial Insolvency Act. Section 229 applies bankruptcy rules only so far as they can be adapted, but where the Companies Act specifically regulates a subject, it prevails over the Insolvency Act. Because section 230 directly addresses the ranking of debts, including Crown debts and other priority claims, it is the controlling provision for winding up priorities and excludes resort to section 61. en-us Mon, 23 Feb 1931 00:00:00 +0530 Mon, 09 Jan 2012 12:15:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=96548 In company winding up, questions of priority among debts are governed by section 230 of the Indian Companies Act rather than section 61 of the Provincial Insolvency Act. Section 229 applies bankruptcy rules only so far as they can be adapted, but where the Companies Act specifically regulates a subject, it prevails over the Insolvency Act. Because section 230 directly addresses the ranking of debts, including Crown debts and other priority claims, it is the controlling provision for winding up priorities and excludes resort to section 61. Case-Laws Companies Law Mon, 23 Feb 1931 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=96548