https://www.taxtmi.com/caselaws?id=111732 Section 529A of the Companies Act, 1956 gives overriding priority to workmen's dues and secured creditors over preferential dues under section 530. Sale proceeds of secured assets realised through the Debts Recovery Tribunal must first be applied to secured creditors and workmen under the statutory priority scheme, and only any surplus can be considered for State Government or other preferential claims. The Court also indicated that, pending adjudication of claims and absent a winding-up order, mining authorities should not take coercive steps such as stopping operations, while departmental claims may still be pursued in liquidation according to law. en-us Fri, 11 Nov 2005 00:00:00 +0530 Tue, 24 Apr 2012 18:46:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=111732 Section 529A of the Companies Act, 1956 gives overriding priority to workmen's dues and secured creditors over preferential dues under section 530. Sale proceeds of secured assets realised through the Debts Recovery Tribunal must first be applied to secured creditors and workmen under the statutory priority scheme, and only any surplus can be considered for State Government or other preferential claims. The Court also indicated that, pending adjudication of claims and absent a winding-up order, mining authorities should not take coercive steps such as stopping operations, while departmental claims may still be pursued in liquidation according to law. Case-Laws Companies Law Fri, 11 Nov 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=111732