Workmen's claim for interest on wages - Company under ...

Companies Law

July 21, 2023

Workmen's claim for interest on wages - Company under liquidation - without a valid contractual provision or statutory basis supporting the payment of interest, and considering the nature of the workmen's claim, it is not justifiable to equate their situation with that of the secured creditors for the purpose of interest payment. Interest payment for workmen would only arise if there is a surplus, which triggers the application of Rule 179 and not otherwise. - HC

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Workmen's claim for interest on wages - Company under ...

Companies Law

July 21, 2023

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