9911796707
TMI Blog2002 (7) TMI 731X X X X Extracts X X X X X X X X Extracts X X X X ..... pondent No. 1 have directed this appeal under section 483 of the Companies Act, 1956, against the order of the Company Judge dated 31-8-2001 passed in Company Petition No. 12 of 1992 whereby dismissing the application I.A. 1989/2001 filed by the petitioner, the Official Liquidator was directed to disburse the amount as directed in the court order dated 30-3-2001 and as calculated by him to the wor ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... c payment is made to the workers, then the petitioners are left with a meagre amount with them which can be credited towards the loan account of the liquidated company. 3. The contention of the learned counsel is that in view of the provisions of section 529A of the Companies Act, the petitioners are also secured creditors and entitled for half of the amount lying deposited with the bank, realise ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... due towards the liquidated company. In case of P.C. Agrawal v. Payment of Wages Inspector, M.P., the apex court by its order dated 30-4-1998 by its order dated 30-4-1998 has justified ad hoc payment to the workmen out of the funds available and held that : "It will be also open to the learned Judge after hearing the parties concerned, including the liquidator to direct ad hoc payment to the worke ..... X X X X Extracts X X X X X X X X Extracts X X X X
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