https://www.taxtmi.com/acts?id=12933 Workmen's dues and secured creditor claims that rank pari passu with those dues are designated as overriding preferential payments in company winding up and must be paid in priority to all other debts. These preferential claims are payable in full if assets permit; if assets are insufficient, they abate equally on a pro rata basis. en-us Wed, 18 May 2011 11:00:57 +0530 Wed, 18 May 2011 11:00:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=12933 Workmen's dues and secured creditor claims that rank pari passu with those dues are designated as overriding preferential payments in company winding up and must be paid in priority to all other debts. These preferential claims are payable in full if assets permit; if assets are insufficient, they abate equally on a pro rata basis. Act-Rules Companies Law Wed, 18 May 2011 11:00:57 +0530 https://www.taxtmi.com/acts?id=12933