https://www.taxtmi.com/caselaws?id=96941 In the winding up of a solvent company, entitlement to interest out of surplus assets depends on the creditor's underlying legal right to interest. A creditor whose debt was non-interest-bearing, and who had no contractual, decretal, or statutory entitlement, could not claim interest merely because a surplus remained after liquidation. By contrast, creditors whose debts carried interest remained entitled to interest until payment. The remaining surplus could then be distributed to contributories, with the return of capital to be made at the stated rate or at the rate finally possible on completion of the accounts. en-us Mon, 25 Mar 1946 00:00:00 +0530 Fri, 13 Jan 2012 12:50:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=96941 In the winding up of a solvent company, entitlement to interest out of surplus assets depends on the creditor's underlying legal right to interest. A creditor whose debt was non-interest-bearing, and who had no contractual, decretal, or statutory entitlement, could not claim interest merely because a surplus remained after liquidation. By contrast, creditors whose debts carried interest remained entitled to interest until payment. The remaining surplus could then be distributed to contributories, with the return of capital to be made at the stated rate or at the rate finally possible on completion of the accounts. Case-Laws Companies Law Mon, 25 Mar 1946 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=96941