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Who is paid first out of Secured Creditors n Workmen's dues in the case of winding up??
Plz guide
Replies (7)
sundry creditore must paid out first
Secured creditors..
Sec 529A provides that anything contained in any proviso of companies act. The workmen's due and debts due to secured crs shall be paid in priority and they shall rank pari passu wid each other. And amount will be paid in full to both. However if the assets are insufficient to meet them. Then they shall abate in equal proportion.
Hello dear,
As per your query....
Sec 529A provides for overriding pref payment.
Sec 530 provides for preferential payment only.
Hope you understand.
Hello dear,
As per your query....
Sec 529A provides for overriding pref payment.
Sec 530 provides for preferential payment only.
Hope you understand.
Hello dear,
As per your query....
Sec 529A provides for overriding pref payment.
Sec 530 provides for preferential payment only.
Hope you understand.
Hello dear,
As per your query....
Sec 529A provides for overriding pref payment.
Sec 530 provides for preferential payment only.
Hope you understand.
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