Court Rules Department's Claim u/s 178 Invalid; Secured Creditors and Workmen Dues Prioritized Per Companies Act Section 529A.

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....Recovery of dues - Invocation of section 178 – the claim of the Department that payment of its dues should be given priority and preference over the dues of secured creditors and workmen militates against the provision u/s 529A of the Companies Act and is contrary to the scheme of the Companies Act and cannot be allowed. - HC....