https://www.taxtmi.com/caselaws?id=111011 Where a company's assets are realised under Court supervision by the Official Liquidator, the liquidation expenses may be apportioned among stakeholders according to their respective interests. Security expenses for protecting the factory premises were not to fall solely on the applicant bank; the Court directed proportionate recovery from other secured creditors and workmen. Valuation charges were treated as first-priority expenses, while professional fee and advertisement charges were retained subject to supporting bills and records. Workmen's dues were left for final determination before any refund. The Official Liquidator's fee under rule 291 was held payable because the realisation occurred through the Court process, notwithstanding that the secured creditor remained outside the winding up. en-us Wed, 14 Sep 2005 00:00:00 +0530 Thu, 19 Apr 2012 16:53:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=111011 Where a company's assets are realised under Court supervision by the Official Liquidator, the liquidation expenses may be apportioned among stakeholders according to their respective interests. Security expenses for protecting the factory premises were not to fall solely on the applicant bank; the Court directed proportionate recovery from other secured creditors and workmen. Valuation charges were treated as first-priority expenses, while professional fee and advertisement charges were retained subject to supporting bills and records. Workmen's dues were left for final determination before any refund. The Official Liquidator's fee under rule 291 was held payable because the realisation occurred through the Court process, notwithstanding that the secured creditor remained outside the winding up. Case-Laws Companies Law Wed, 14 Sep 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=111011