https://www.taxtmi.com/caselaws?id=97596 In winding up, an Employees' State Insurance Corporation contribution claim ranked in priority only to the extent expressly preserved by the later Companies Act, 1956. Section 530(1)(d) limited preferential treatment to contributions payable during the twelve months before the relevant date, taken as the appointment of the provisional liquidator; the General Clauses Act did not expand that priority. The Corporation therefore had priority only for the contribution within that period, while the balance ranked as an ordinary debt. The Court also held that, given the company's limited assets, the official liquidator need not have the accounts printed and sent to every creditor and contributory, and circulation of printed accounts was dispensed with. en-us Tue, 29 Jul 1958 00:00:00 +0530 Tue, 17 Jan 2012 13:22:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=97596 In winding up, an Employees' State Insurance Corporation contribution claim ranked in priority only to the extent expressly preserved by the later Companies Act, 1956. Section 530(1)(d) limited preferential treatment to contributions payable during the twelve months before the relevant date, taken as the appointment of the provisional liquidator; the General Clauses Act did not expand that priority. The Corporation therefore had priority only for the contribution within that period, while the balance ranked as an ordinary debt. The Court also held that, given the company's limited assets, the official liquidator need not have the accounts printed and sent to every creditor and contributory, and circulation of printed accounts was dispensed with. Case-Laws Companies Law Tue, 29 Jul 1958 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=97596