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2008 (2) TMI 620 - HC - Companies LawWinding up - Overriding preferential payment - Held that:- It is evident from the Official Liquidator’s report that the workmen portion of dues has been computed as ₹ 8,07,035 towards which the applicant herein has already deposited ₹ 4,10,000. The applicant shall deposit the balance ₹ 3,97,035, representing the remaining portion of the workmen dues, with the Official Liquidator within four weeks from the date of receipt of a copy of this order. Subject to the above, the applicant may appropriate the balance remaining from the sale proceeds of Rupees fifty lakhs deposited by it with Andhra Bank along with interest accrued thereon. Needless to state that in case any further amount is held liable to be paid towards the workmen dues, the Official Liquidator shall be entitled to enforce such dues pari passu with the dues of the applicant and APIDC. The company application is disposed of accordingly.
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