https://www.taxtmi.com/caselaws?id=102418 Closure of an industrial undertaking is compensable under the main rule in section 25FFF(1) of the Industrial Disputes Act, 1947 unless the employer proves closure was due to unavoidable circumstances beyond its control. Financial difficulties and accumulation of stocks do not, by themselves, bring the case within the proviso, and a winding-up order does not automatically convert the closure into one falling under the restricted liability provision. In winding-up proceedings, workmen's admitted dues are subject to the Companies (Court) Rules, 1959, and interest on such claims is confined by Rule 156 to the statutory limit, not an enhanced contractual or equitable rate. en-us Thu, 02 Dec 1993 00:00:00 +0530 Tue, 14 Feb 2012 18:00:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=102418 Closure of an industrial undertaking is compensable under the main rule in section 25FFF(1) of the Industrial Disputes Act, 1947 unless the employer proves closure was due to unavoidable circumstances beyond its control. Financial difficulties and accumulation of stocks do not, by themselves, bring the case within the proviso, and a winding-up order does not automatically convert the closure into one falling under the restricted liability provision. In winding-up proceedings, workmen's admitted dues are subject to the Companies (Court) Rules, 1959, and interest on such claims is confined by Rule 156 to the statutory limit, not an enhanced contractual or equitable rate. Case-Laws Companies Law Thu, 02 Dec 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=102418