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2014 (1) TMI 529 - CALCUTTA HIGH COURTLiquidation of Company - Payment to Central Excise department - Held that:- Even though the Excise Authorities are preferred creditors, but they are covered by Section 530 of the Act and stand in queue after the claims of the creditors covered by Section 529A of the Act are paid. Since all the assets of the company in liquidation have been sold, no useful purpose would be served in receiving this application for further consideration - official liquidator directed to make payment of the admitted claim of the Excise Authorities if there is any money left after discharging the claims of the creditors of the company in liquidation covered by Section 529A of the Act - Decided in favour of appellant.
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