https://www.taxtmi.com/caselaws?id=111948 In a winding-up context, the special recovery statute gives the Tribunal and Recovery Officer exclusive control over adjudication, execution, and distribution of sale proceeds realised under that Act, but it does not compel an official liquidator to surrender money already in his custody. Where liquidation assets remain with the liquidator, the company court retains supervisory control, and the Recovery Officer may seek recourse under the statutory mechanism before that court. The pari passu rights of workmen and secured creditors in liquidation remain applicable. On that basis, the company court's direction allowing retention and distribution through the liquidator was sustained. en-us Mon, 22 Sep 2008 00:00:00 +0530 Fri, 28 Nov 2014 11:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=111948 In a winding-up context, the special recovery statute gives the Tribunal and Recovery Officer exclusive control over adjudication, execution, and distribution of sale proceeds realised under that Act, but it does not compel an official liquidator to surrender money already in his custody. Where liquidation assets remain with the liquidator, the company court retains supervisory control, and the Recovery Officer may seek recourse under the statutory mechanism before that court. The pari passu rights of workmen and secured creditors in liquidation remain applicable. On that basis, the company court's direction allowing retention and distribution through the liquidator was sustained. Case-Laws Companies Law Mon, 22 Sep 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=111948