https://www.taxtmi.com/caselaws?id=98312 A closure caused merely by financial difficulties or losses is not treated as a closure due to unavoidable circumstances beyond the employer's control, so the limited compensation regime under section 25-FFF does not apply and retrenchment compensation under section 25-F governs instead. Compensation payable to a workman under Chapter V-A of the Industrial Disputes Act also falls within the priority scheme in section 530(1)(b) of the Companies Act, 1956, and the timing of accrual does not defeat that priority where the statutory monetary ceiling is met. The workman therefore obtained both the higher compensation claim and priority in distribution. en-us Fri, 09 Jul 1965 00:00:00 +0530 Fri, 20 Jan 2012 11:24:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=98312 A closure caused merely by financial difficulties or losses is not treated as a closure due to unavoidable circumstances beyond the employer's control, so the limited compensation regime under section 25-FFF does not apply and retrenchment compensation under section 25-F governs instead. Compensation payable to a workman under Chapter V-A of the Industrial Disputes Act also falls within the priority scheme in section 530(1)(b) of the Companies Act, 1956, and the timing of accrual does not defeat that priority where the statutory monetary ceiling is met. The workman therefore obtained both the higher compensation claim and priority in distribution. Case-Laws Companies Law Fri, 09 Jul 1965 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=98312