https://www.taxtmi.com/article/detailed?id=12051 Priority in distribution of liquidation proceeds is governed by the statutory waterfall mechanism set out in Section 53 of the Insolvency and Bankruptcy Code, which prescribes a hierarchical order for payment of insolvency resolution costs, secured creditors, workmen and employee dues, unsecured financial creditors, and government dues. The Supreme Court reaffirmed that CBIC dues are payable in conformity with that waterfall mechanism, emphasizing adherence to the legislative priority scheme in liquidation distributions. en-us Mon, 20 Nov 2023 10:01:11 +0530 Mon, 20 Nov 2023 10:01:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=12051 Priority in distribution of liquidation proceeds is governed by the statutory waterfall mechanism set out in Section 53 of the Insolvency and Bankruptcy Code, which prescribes a hierarchical order for payment of insolvency resolution costs, secured creditors, workmen and employee dues, unsecured financial creditors, and government dues. The Supreme Court reaffirmed that CBIC dues are payable in conformity with that waterfall mechanism, emphasizing adherence to the legislative priority scheme in liquidation distributions. Articles Customs - Import - Export - SEZ Mon, 20 Nov 2023 10:01:11 +0530 https://www.taxtmi.com/article/detailed?id=12051