https://www.taxtmi.com/caselaws?id=458822 Workmen could not obstruct enforcement under SARFAESI or claim priority over a secured creditor because the company was neither in liquidation nor subject to winding-up proceedings. Section 13(9) of the SARFAESI Act gives special treatment to sale proceeds only in the limited situations of multiple secured creditors or where liquidation or pending winding-up attracts the provisos; section 529A of the Companies Act, 1956 operates in winding-up contexts. As the alleged workmen's dues were neither adjudicated nor quantified, no direction could be issued for payment from the realised assets, and the recovery challenge was not maintainable. The secured creditor was therefore entitled to continue enforcement. en-us Mon, 04 Oct 2010 00:00:00 +0530 Mon, 18 Nov 2024 12:57:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=458822 Workmen could not obstruct enforcement under SARFAESI or claim priority over a secured creditor because the company was neither in liquidation nor subject to winding-up proceedings. Section 13(9) of the SARFAESI Act gives special treatment to sale proceeds only in the limited situations of multiple secured creditors or where liquidation or pending winding-up attracts the provisos; section 529A of the Companies Act, 1956 operates in winding-up contexts. As the alleged workmen's dues were neither adjudicated nor quantified, no direction could be issued for payment from the realised assets, and the recovery challenge was not maintainable. The secured creditor was therefore entitled to continue enforcement. Case-Laws Companies Law Mon, 04 Oct 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=458822