https://www.taxtmi.com/caselaws?id=112142 A company court will not order a secured creditor to refund alleged excess sale proceeds from liquidation while a competent tribunal's decree on the debt remains operative. The tribunal's adjudication cannot be re-examined in parallel proceedings before the company court, and any challenge to the decretal liability must be pursued in the proper appellate forum. If the decree is later altered, any consequential adjustment must then be worked out under the winding-up regime, including the statutory rules governing distribution of liquidation assets and priorities. On the present record, no refund direction was warranted. en-us Wed, 05 Mar 2008 00:00:00 +0530 Thu, 11 Dec 2014 12:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=112142 A company court will not order a secured creditor to refund alleged excess sale proceeds from liquidation while a competent tribunal's decree on the debt remains operative. The tribunal's adjudication cannot be re-examined in parallel proceedings before the company court, and any challenge to the decretal liability must be pursued in the proper appellate forum. If the decree is later altered, any consequential adjustment must then be worked out under the winding-up regime, including the statutory rules governing distribution of liquidation assets and priorities. On the present record, no refund direction was warranted. Case-Laws Companies Law Wed, 05 Mar 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=112142