https://www.taxtmi.com/caselaws?id=97864 The court concluded that the respondents' claims for preferential payments as secured creditors were not justified under Section 530 of the Companies Act, 1956. The court found that the respondents did not qualify as "State Government" or "local authority" and their claims should be treated as unsecured debts. The official liquidator was allowed to rectify the error in the classification of the respondents' claims and list them as unsecured creditors. No costs were awarded in the matter. en-us Thu, 13 Apr 1961 00:00:00 +0530 Wed, 18 Jan 2012 13:27:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=97864 The court concluded that the respondents' claims for preferential payments as secured creditors were not justified under Section 530 of the Companies Act, 1956. The court found that the respondents did not qualify as "State Government" or "local authority" and their claims should be treated as unsecured debts. The official liquidator was allowed to rectify the error in the classification of the respondents' claims and list them as unsecured creditors. No costs were awarded in the matter. Case-Laws Companies Law Thu, 13 Apr 1961 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=97864