https://www.taxtmi.com/caselaws?id=101388 Wages and emoluments earned by workers up to closure were given priority over pledged finished stock of the closed industry, because the stock represented the product of their labour and their subsistence was at stake. The stock was directed to be sold to satisfy those dues, while the secured creditors' interests were not treated as defeating worker payment where other sufficient securities existed. The notification declaring the undertaking a relief undertaking under the Bihar Relief Undertakings (Special Provisions) Act, 1981 could not be used to obstruct payment of workers' claims from the sale proceeds. en-us Mon, 27 Apr 1987 00:00:00 +0530 Fri, 13 Jun 2014 15:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=101388 Wages and emoluments earned by workers up to closure were given priority over pledged finished stock of the closed industry, because the stock represented the product of their labour and their subsistence was at stake. The stock was directed to be sold to satisfy those dues, while the secured creditors' interests were not treated as defeating worker payment where other sufficient securities existed. The notification declaring the undertaking a relief undertaking under the Bihar Relief Undertakings (Special Provisions) Act, 1981 could not be used to obstruct payment of workers' claims from the sale proceeds. Case-Laws Companies Law Mon, 27 Apr 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=101388