2002 (9) TMI 896

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....A MR DS VASAVADA FOR THE PETITIONER MR RM DESAI, MR AC GANDHI FOR THE RESPONDENT   ORAL ORDER #. Company Application No.219/99 was filed in Company Petition No.156/89 by the applicant-Textile Labour Association and taken out Judge's Summons for certain directions mentioned in it. Different Hon'ble Judges have passed various orders on this application. Lastly, my learned Br....

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....ecured creditors and the workers. As per the report of the Chartered Accountant, the workers are entitled for more than Rs. 70 lakhs as per the ratio worked out for workers i.e. 81.74% and balance 16.26% for the secured creditors. However, Mr.Desai, learned counsel appearing for the State Bank of India disputes the ratio given by the Chartered Accountant and the amount to be paid to the workers. A....

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....above amount. However, respondent-State Bank of India is not disputing the ratio even fixed by the Chartered Accountant. According to Mr.Desai appearing for State Bank of India they will be entitled for more. That question can be gone into and decide later on. However, in view of the fact that the amount due and payable to the workers is due since long and they could not even get it in last Diwali....