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1957 (4) TMI 36 - HIGH COURT OF ANDHRA PRADESHExtract: .......s Act. There is no other provision in the Companies Act which entitles the employees to be paid the money equivalent of the accumulated leave as a preferential payment. The claim of the employees to preferential payment cannot therefore be allowed. The liquidator will have his costs of this application, that is Rs. 7 from the assets of the company.
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