https://www.taxtmi.com/acts?id=31031 Liquidation proceeds are distributed in a fixed statutory order of priority: insolvency resolution process costs and liquidation costs first, then equal-ranking workmen's dues and relinquished secured debt, followed by employee wages, unsecured financial debts, government dues and unpaid secured debt after enforcement, and then remaining debts, preference shareholders, and equity shareholders or partners. Contractual arrangements that disrupt this order are disregarded, liquidator's fees are deducted proportionately, and equal-ranking claims are paid in full or rateably if proceeds are insufficient. en-us Tue, 02 Jan 2018 14:40:01 +0530 Tue, 26 May 2026 11:55:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=31031 Liquidation proceeds are distributed in a fixed statutory order of priority: insolvency resolution process costs and liquidation costs first, then equal-ranking workmen's dues and relinquished secured debt, followed by employee wages, unsecured financial debts, government dues and unpaid secured debt after enforcement, and then remaining debts, preference shareholders, and equity shareholders or partners. Contractual arrangements that disrupt this order are disregarded, liquidator's fees are deducted proportionately, and equal-ranking claims are paid in full or rateably if proceeds are insufficient. Act-Rules IBC Tue, 02 Jan 2018 14:40:01 +0530 https://www.taxtmi.com/acts?id=31031