https://www.taxtmi.com/caselaws?id=110939 A company court may regulate the sale of a company's seized assets when winding-up proceedings are pending, because a financial corporation's enforcement power under section 29 of the State Financial Corporations Act, 1951 must operate consistently with the pari passu charge for workmen under the proviso to section 529 and the priority scheme in section 529A of the Companies Act, 1956. Where notice of pending winding-up proceedings has been published, knowledge of those proceedings may be presumed, and the court may control disposal of assets to protect workmen's dues. en-us Mon, 08 Aug 2005 00:00:00 +0530 Thu, 19 Apr 2012 12:40:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=110939 A company court may regulate the sale of a company's seized assets when winding-up proceedings are pending, because a financial corporation's enforcement power under section 29 of the State Financial Corporations Act, 1951 must operate consistently with the pari passu charge for workmen under the proviso to section 529 and the priority scheme in section 529A of the Companies Act, 1956. Where notice of pending winding-up proceedings has been published, knowledge of those proceedings may be presumed, and the court may control disposal of assets to protect workmen's dues. Case-Laws Companies Law Mon, 08 Aug 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=110939