https://www.taxtmi.com/caselaws?id=753101 HC dismissed company appeals regarding workmen's claim for statutory interest under Rule 156 of Companies (Court) Rules, 1959. Court held that under Section 529-A of Companies Act 1956, workmen become secured creditors pari passu with secured creditors for dues, but only for salary arrears already adjudicated. Since workmen never initially claimed interest and no such claim was adjudicated upon, they cannot subsequently claim interest on arrears. The court found workmen had no vested right to interest as this was never established by competent authority order. en-us Tue, 14 May 2024 00:00:00 +0530 Fri, 24 May 2024 15:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=753101 HC dismissed company appeals regarding workmen's claim for statutory interest under Rule 156 of Companies (Court) Rules, 1959. Court held that under Section 529-A of Companies Act 1956, workmen become secured creditors pari passu with secured creditors for dues, but only for salary arrears already adjudicated. Since workmen never initially claimed interest and no such claim was adjudicated upon, they cannot subsequently claim interest on arrears. The court found workmen had no vested right to interest as this was never established by competent authority order. Case-Laws Companies Law Tue, 14 May 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=753101