2000 (9) TMI 992

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.... for the Petitioner. D.S. Vasavada for the Respondent. JUDGMENT R.K. Abichandani, J. - The applicant has prayed for stay of the operation of the impugned order made on September 30, 1999-Nutan Mills Employees Co-operative Credit Society Ltd. v. Official Liquidator of Nutan Mills Ltd. [2001] 104 Comp Cas 439 ^1 (Guj.) by the learned company judge. Ad interim relief was granted on November 4, ....

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....at the amount of Rs. 8,95,196.50 which remained outstanding in the hands of the company for being paid to the society was impressed with the character of a trust and the company was a sort of a trustee or a quasi-trustee in respect of that amount, and, therefore, the liquidator was bound to repay the same to the workers of the mill company. The learned single judge referring to the decision of thi....

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....nd revenue on a certificate being issued by the Registrar after holding such enquiry as he deems fit and the amount so due shall rank in priority in respect of such liability of the employer as wages in arrears. The controversy is as to whether the said amount would be wages in arrears under section 529A or not? If the credit society is to step into the shoes of the employee as regards the said am....