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1987 (4) TMI 370 - SC - Companies LawArrears of salaries and wages due to the workers from May, 1984, onwards - Held that:- We direct that stocks which are lying with the industry valued at Rs. 91,77,000 shall immediately be disposed of and out of this, the wages and other dues of the workers for the period from May, 1984, till 8th July, 1984, shall be met. The balance, if any, will be utilised for meeting other pressing demands in the discretion of the official liquidator subject to orders of the Court. We are sure that the official liquidator will ensure that the disposal fetches the best of rates. We may also make it clear that issuance of the notification by the Bihar State Government will not come in the way of sale of these assets and payment to the workers. We direct that this shall be completed within two months from today. The case may come for further directions in third week of July.
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