https://www.taxtmi.com/caselaws?id=220340 The court clarified that under the Companies Act, 1956, secured creditors in liquidation proceedings are treated equally without distinction based on their charge priority. The judgment emphasized the uniform treatment of secured creditors in calculating the distribution ratio, upholding the principle of pari passu charge in asset distribution. The court dismissed the appeals, stating that the submissions lacked substance and did not align with legal provisions governing the distribution of assets in liquidation proceedings. en-us Wed, 07 Nov 2012 00:00:00 +0530 Mon, 21 Jan 2013 07:42:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=220340 The court clarified that under the Companies Act, 1956, secured creditors in liquidation proceedings are treated equally without distinction based on their charge priority. The judgment emphasized the uniform treatment of secured creditors in calculating the distribution ratio, upholding the principle of pari passu charge in asset distribution. The court dismissed the appeals, stating that the submissions lacked substance and did not align with legal provisions governing the distribution of assets in liquidation proceedings. Case-Laws Companies Law Wed, 07 Nov 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=220340