https://www.taxtmi.com/caselaws?id=103061 The court clarified that secured creditors can realize their debts independently if the action was initiated before the company's winding-up. The court emphasized the jurisdiction of the winding-up court to handle suits against the company post-winding-up. It highlighted the need to balance the interests of secured creditors and other creditors, particularly workmen. The court suggested granting leave to secured creditors to pursue remedies in civil courts under reasonable conditions, ensuring workmen's dues are considered. The case concluded with directions for the company court to make appropriate orders based on the judgment's principles, without awarding costs. en-us Thu, 22 Feb 1996 00:00:00 +0530 Tue, 17 Jun 2014 12:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=103061 The court clarified that secured creditors can realize their debts independently if the action was initiated before the company's winding-up. The court emphasized the jurisdiction of the winding-up court to handle suits against the company post-winding-up. It highlighted the need to balance the interests of secured creditors and other creditors, particularly workmen. The court suggested granting leave to secured creditors to pursue remedies in civil courts under reasonable conditions, ensuring workmen's dues are considered. The case concluded with directions for the company court to make appropriate orders based on the judgment's principles, without awarding costs. Case-Laws Companies Law Thu, 22 Feb 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=103061