https://www.taxtmi.com/caselaws?id=99600 A mortgage executed by the liquidator during winding up did not confer on the State Government the status of a secured creditor standing outside the winding up, so it could not claim full payment from the sale proceeds on that basis. Workmen's claims for wages, leave allowance and notice pay attracted priority under section 230 of the Indian Companies Act, 1913 only to the extent those amounts fell within the statutory two-month period before the winding-up order, while gratuity and other amounts within the relevant clause were not subject to that temporal limit. The matter therefore required item-wise reconsideration of the claims under the statutory priority scheme. en-us Mon, 06 Mar 1978 00:00:00 +0530 Sat, 28 Jan 2012 10:28:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=99600 A mortgage executed by the liquidator during winding up did not confer on the State Government the status of a secured creditor standing outside the winding up, so it could not claim full payment from the sale proceeds on that basis. Workmen's claims for wages, leave allowance and notice pay attracted priority under section 230 of the Indian Companies Act, 1913 only to the extent those amounts fell within the statutory two-month period before the winding-up order, while gratuity and other amounts within the relevant clause were not subject to that temporal limit. The matter therefore required item-wise reconsideration of the claims under the statutory priority scheme. Case-Laws Companies Law Mon, 06 Mar 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=99600