https://www.taxtmi.com/caselaws?id=313035 A consent-based One Time Settlement for a defined class of workmen was treated as binding where all affected stakeholders supported payment in full and final satisfaction and the arrangement could be implemented without defeating other claims. The Court directed that funds diverted to the Common Pool Fund, including related accruals and sale proceeds, be restored to the company's account so the settlement amount could be released to the covered workmen. The pro rata distribution approach was modified for these workmen, while other creditors' and workers' claims were left to be processed separately. The directions were expressly tailored to the facts and stated not to operate as precedent. en-us Wed, 03 Sep 2014 00:00:00 +0530 Wed, 20 Mar 2024 13:57:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=313035 A consent-based One Time Settlement for a defined class of workmen was treated as binding where all affected stakeholders supported payment in full and final satisfaction and the arrangement could be implemented without defeating other claims. The Court directed that funds diverted to the Common Pool Fund, including related accruals and sale proceeds, be restored to the company's account so the settlement amount could be released to the covered workmen. The pro rata distribution approach was modified for these workmen, while other creditors' and workers' claims were left to be processed separately. The directions were expressly tailored to the facts and stated not to operate as precedent. Case-Laws Companies Law Wed, 03 Sep 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=313035