https://www.taxtmi.com/caselaws?id=112039 The Court dismissed the application by three secured creditors seeking interim payment before the adjudication of their claims by the Official Liquidator. It held that there was no inherent power for the Court or Official Liquidator to make such payments, emphasizing the need to treat workmen dues equally with secured creditors' dues in liquidation proceedings. The judgment highlighted the statutory provisions and precedent rejecting similar applications, concluding that the requested interim payments lacked legal basis and could prejudice the rights of workmen. en-us Wed, 19 Dec 2007 00:00:00 +0530 Wed, 17 Dec 2014 12:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=112039 The Court dismissed the application by three secured creditors seeking interim payment before the adjudication of their claims by the Official Liquidator. It held that there was no inherent power for the Court or Official Liquidator to make such payments, emphasizing the need to treat workmen dues equally with secured creditors' dues in liquidation proceedings. The judgment highlighted the statutory provisions and precedent rejecting similar applications, concluding that the requested interim payments lacked legal basis and could prejudice the rights of workmen. Case-Laws Companies Law Wed, 19 Dec 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=112039