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2014 (9) TMI 1285 - DELHI HIGH COURTSeeking directions to disburse the amount to the workers out of the available funds in the account of the company between the secured creditors and workers based on a calculation - HELD THAT:- The order is being passed to balance equities especially amongst the thousands of workmen of the appellant union, who are languishing and deprived of their legitimate dues for decades. In these facts, it cannot be denied that in the instant case interest of justice mandates that the amounts of the company including not only the principal amount received from the sale of its assets but also the accruals thereon in the nature of interest etc. be restored to the credit of the company and be made available for full and final disbursement between the creditors of the company. There is no objection to the acceptance of the One Time Settlement as well as the entitlement of 2018 workers who were members of the appellant union in the sum of Rs.14,64,88,422/- as full and final payment to these workers. The same is hereby accepted. The parties have stated on affidavits that they would not have any objection to the disbursement of One Time Settlement amount to the appellant. The parties shall remain bound by the consent, which they have given before us on affidavit. All claims of the appellant-Union’s 2018 workers shall stand finally satisfied upon receipt of the disbursement of the amount in terms of the One Time Settlement to them. It shall not be open for them to make any other or further claim after they receive the amounts thereof, which shall be in full and final settlement of all claims. The Official Liquidator shall credit the account of the company with all amounts credited to the Common Pool Fund from the sale proceeds of the units of the company under liquidation after 1st November, 2005 till 13th August 2013 - Appeal disposed off.
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