https://www.taxtmi.com/caselaws?id=97736 Money deposited with a company as security for a specific agency-related purpose, where no company claim had arisen, retained the character of trust property and did not become part of the company's general assets in liquidation. The amount did not vest in the liquidator as part of the estate, and it was therefore unnecessary to treat it as a debt requiring preferential payment under the Companies Act. The security deposit with accrued interest was held repayable in full to the depositor from the liquidation funds. en-us Wed, 17 Aug 1960 00:00:00 +0530 Tue, 17 Jan 2012 18:03:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=97736 Money deposited with a company as security for a specific agency-related purpose, where no company claim had arisen, retained the character of trust property and did not become part of the company's general assets in liquidation. The amount did not vest in the liquidator as part of the estate, and it was therefore unnecessary to treat it as a debt requiring preferential payment under the Companies Act. The security deposit with accrued interest was held repayable in full to the depositor from the liquidation funds. Case-Laws Companies Law Wed, 17 Aug 1960 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=97736