https://www.taxtmi.com/caselaws?id=197919 Liquidation-balance distribution under the cited Companies Act provisions includes every secured creditor, rather than only first-charge holders, alongside workers. Priority disputes between first- and second-charge creditors may require separate adjustment under the Transfer of Property Act and do not exclude second-charge creditors at the disbursement stage. Affidavits and supporting materials submitted to the Official Liquidator to substantiate claims do not amount to relinquishment of security. Disbursement may follow the Chartered Accountant's final apportionment, while the amount attributable to ICICI Bank remains retained and invested in a fixed deposit pending further directions concerning bank substitution. en-us Thu, 26 Jul 2007 00:00:00 +0530 Thu, 18 Jan 2018 09:57:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=197919 Liquidation-balance distribution under the cited Companies Act provisions includes every secured creditor, rather than only first-charge holders, alongside workers. Priority disputes between first- and second-charge creditors may require separate adjustment under the Transfer of Property Act and do not exclude second-charge creditors at the disbursement stage. Affidavits and supporting materials submitted to the Official Liquidator to substantiate claims do not amount to relinquishment of security. Disbursement may follow the Chartered Accountant's final apportionment, while the amount attributable to ICICI Bank remains retained and invested in a fixed deposit pending further directions concerning bank substitution. Case-Laws Companies Law Thu, 26 Jul 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=197919