https://www.taxtmi.com/caselaws?id=754305 The Jharkhand HC dismissed appeals challenging denial of statutory interest under Rule 156 of Companies (Court) Rules, 1959. The court held that Section 483 of Companies Act, 1956 grants wide appellate powers to ensure complete justice. Under Section 529-A, workmen's claims rank pari passu with secured creditors' charges. However, workmen never claimed interest during proceedings and payments were made from unsecured assets per court order dated 12th August 2016, which attained finality. The court found no error in the Single Judge's refusal to grant statutory interest to workmen post-settlement. en-us Tue, 14 May 2024 00:00:00 +0530 Fri, 21 Jun 2024 08:15:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=754305 The Jharkhand HC dismissed appeals challenging denial of statutory interest under Rule 156 of Companies (Court) Rules, 1959. The court held that Section 483 of Companies Act, 1956 grants wide appellate powers to ensure complete justice. Under Section 529-A, workmen's claims rank pari passu with secured creditors' charges. However, workmen never claimed interest during proceedings and payments were made from unsecured assets per court order dated 12th August 2016, which attained finality. The court found no error in the Single Judge's refusal to grant statutory interest to workmen post-settlement. Case-Laws Companies Law Tue, 14 May 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=754305