Supreme Court of India
Textile Labour Association and Anr. v. The Official Liquidator and Anr.
INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.
3 Supreme Court benches have cited this judgment.
What the Court ordered
In the result, we make it clear that order made by this Court on G 17.10.1997 in I.A.No. 168-178/1997 in Civil Appeal No. 8530-40/1983 will have to be read subject to provisions of Sections 529 and 529A of the Companies Act.
Judgment, page 6
From the headnote
Companies Act, 1956: Ss. 529, 529- and 530-Company under liquidation-Priority of claims-Held, s.529- will override all claims of other creditors even where a decree has been passed by a court-Purpose of s.529- is to ensure that workers should not be deprived of their legitimate claims and assets of the Company would remain charged for payment for workers' dues- Such charge will be pari passu with the charge of secured creditors and have to be treated accordingly-Constitution of India, 1950-Article 142.
Authorities it was built on
Where later benches applied it
- 2013 Essa@ Anjum Abdul Razak Memon v. The State of Maharashtra, through Stf, Cbi Mumbai, Part-ii
- 2011 Employees Provident Fund Commissioner v. O.L. of Esskay Pharmaceuticals Limited
- 2012 Akhilesh Yadav Etc. Etc. v. Vishwanath Chaturvedi & Ors.
Of those, 2 referred to · 1 mentioned
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