Liquidation of companies

Rahul Gupta (CA Final Student) (1780 Points)

17 March 2008  
Legal Order Of Payment

"Lo Lo Lo Sadha Pedha Dipped Under Pista Eliachi" (catchy slogan to remember)

Legal expenses
Liquidator's remmuneration
Liquidation expenses
Secured liabilities
Preferential liabilities
Debenture holders
Unsecured creditors
Preference shareholders
Equity Shareholders

I hope my friends would find it easy to remember the legal order of payment..
regards
Rahul Gupta
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