https://www.taxtmi.com/caselaws?id=214051 The court approved the sale of Maharana Mills Ltd.'s properties in liquidation, resulting in proceeds of approximately Rs. 13.20 crores. Workers' claims under section 529A were verified, with admissible claims totaling Rs. 34,85,47,106. The State Bank of Saurashtra did not object to the official liquidator's reports. A total of Rs. 37,59,75,625 was sought for disbursement to workers, with secured creditors having claims of Rs. 11,27,44,952. The court allowed ad hoc disbursement of Rs. 12 crores among workers and secured creditors, with Rs. 1.50 crores retained for contingencies, concluding the matter with parties' consent. en-us Thu, 28 Jul 2011 00:00:00 +0530 Fri, 08 Feb 2013 17:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=214051 The court approved the sale of Maharana Mills Ltd.'s properties in liquidation, resulting in proceeds of approximately Rs. 13.20 crores. Workers' claims under section 529A were verified, with admissible claims totaling Rs. 34,85,47,106. The State Bank of Saurashtra did not object to the official liquidator's reports. A total of Rs. 37,59,75,625 was sought for disbursement to workers, with secured creditors having claims of Rs. 11,27,44,952. The court allowed ad hoc disbursement of Rs. 12 crores among workers and secured creditors, with Rs. 1.50 crores retained for contingencies, concluding the matter with parties' consent. Case-Laws Companies Law Thu, 28 Jul 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=214051