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

Workmen's Wage Interest Claims Unjustified Without Contract or Statute; Rule 179 Applies Only with Surplus Funds.

July 21, 2023

Case Laws Companies Law HC

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 ...

Workmen's Wage Interest Claims Unjustified Without Contract or Statute; Rule 179 Applies Only with Surplus Funds.

July 21, 2023

Case Laws Companies Law HC

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