https://www.taxtmi.com/caselaws?id=287713 A special debt recovery statute creates exclusive jurisdiction in the Tribunal for adjudication and in the Recovery Officer for execution, so company-law provisions on leave, stay, transfer, or winding up cannot interrupt that mechanism. Distribution of sale proceeds realised under the statute is also controlled by the limited priority scheme preserved for workmen under section 529A, not by the wider company-winding-up rules. A rival bank without an adjudicated claim cannot demand a share in the proceeds, and any balance after meeting workmen's dues must be dealt with by the Tribunal in accordance with law. en-us Tue, 04 Apr 2000 00:00:00 +0530 Tue, 14 Jan 2025 14:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=287713 A special debt recovery statute creates exclusive jurisdiction in the Tribunal for adjudication and in the Recovery Officer for execution, so company-law provisions on leave, stay, transfer, or winding up cannot interrupt that mechanism. Distribution of sale proceeds realised under the statute is also controlled by the limited priority scheme preserved for workmen under section 529A, not by the wider company-winding-up rules. A rival bank without an adjudicated claim cannot demand a share in the proceeds, and any balance after meeting workmen's dues must be dealt with by the Tribunal in accordance with law. Case-Laws Indian Laws Tue, 04 Apr 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=287713