https://www.taxtmi.com/caselaws?id=102506 The Court interpreted the proviso to section 529(1) of the Companies Act, 1956, post its 1985 amendment in a case involving a secured creditor and workers' dues. The Court held that the amendment applies to all available securities, ensuring workers' dues rank equally with secured creditors in liquidation proceedings. The provision aims to protect workmen's interests by equating their dues with secured creditors' debts. The Court upheld the Division Bench's decision, dismissing the appeal and awarding costs to the respondent. en-us Mon, 11 Jul 1994 00:00:00 +0530 Wed, 18 Dec 2013 17:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=102506 The Court interpreted the proviso to section 529(1) of the Companies Act, 1956, post its 1985 amendment in a case involving a secured creditor and workers' dues. The Court held that the amendment applies to all available securities, ensuring workers' dues rank equally with secured creditors in liquidation proceedings. The provision aims to protect workmen's interests by equating their dues with secured creditors' debts. The Court upheld the Division Bench's decision, dismissing the appeal and awarding costs to the respondent. Case-Laws Companies Law Mon, 11 Jul 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=102506