{"id":205151,"date":"2018-11-15T13:00:00","date_gmt":"2018-11-15T07:30:00","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=205151"},"modified":"2018-11-19T14:23:45","modified_gmt":"2018-11-19T08:53:45","slug":"priority-to-be-given-to-interests-of-workmen-over-that-of-corporation-object-of-section-529-a-of-companies-act-1956-reiterated-bom-hc","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2018\/11\/15\/priority-to-be-given-to-interests-of-workmen-over-that-of-corporation-object-of-section-529-a-of-companies-act-1956-reiterated-bom-hc\/","title":{"rendered":"Priority to be given to interests of workmen over that of corporation; object of Section 529-A of Companies Act, 1956 reiterated: Bom HC"},"content":{"rendered":"

Bombay High Court:\u00a0<\/strong>A Division Bench comprising of A.S. Oka and M.S. Sonak, JJ. dismissed an appeal filed against the order of the Company Judge wherein he had directed the appellant- Bank to pay the dues of the\u00a0workmen that shall be recovered by it as directed\u00a0therein.<\/p>\n

During the liquidation proceedings of one Zadona Electronics Ltd., the appellant and the Union representing the workmen\u00a0of ZEL filed certain consent\u00a0terms regarding the settlement of workmen dues. As per the terms, the Bank deposited over rs, 41 crores with the official liquidator to be distributed among over 800 workmen. Out of it, a sum of over Rs 50 lakhs was paid to 12 workmen whose claims were wrongly adjudicated as priority claims. On re-adjudication, the orders for recovery of such sum from the said 12 workmen was made and the recovery was in progress. However, as a result of such payment, there was a proportionate shortfall in the amounts to be disbursed to the remaining employers. The main issue before the Company Judge was whether the payment to remaining\u00a0workmen should be deferred until the said recovery or whether\u00a0the tank should make good the shortfall. The Judge decided for the latter. Aggrieved thereby, the Bank filed the instant appeal.<\/p>\n

The High Court observed that as between the interests of the workmen and Bank, the Judge correctly exercised discretion in favour of the former. The court was satisfied that the order impugned was made in furtherance of Section 529-A of Companies Act, 1956. The object behind the provision was reiterated “since resources of companies constitute a major segment of the material resources of the community and common good demands that the ownership and control\u00a0of the resources of every company are so distributed that in the unfortunate event of its liquidation, workers, whose labour and effort constitute an invisible but easily perceivable\u00a0part of the capital of the company are not deprived of their legitimate right to participate in the product of their labour and effort. Therefore, the provision to accord a priority status to the workmen’s dues.” Furthermore, it was held that no prejudice would be caused to the Bank as it was entitled to receive the payment from the amount recovered from the said 12 workmen. In light of the above, the appeal was dismissed. [Kotak Mahindra Bank Ltd. v. Official Liquidator of Zadona\u00a0Electronics Ltd.,2018 SCC OnLine Bom 4205<\/b><\/a>, decided on 17-10-2018]<\/p>\n","protected":false},"excerpt":{"rendered":"

Bombay High Court:\u00a0A Division Bench comprising of A.S. Oka and M.S. Sonak, JJ. dismissed an appeal filed against the order of the <\/p>\n","protected":false},"author":8808,"featured_media":74381,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3,10],"tags":[10091,3673,32438,3392],"class_list":["post-205151","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-casebriefs","category-highcourts","tag-corporation","tag-official_liquidator","tag-section-529-a-of-companies-act-1956","tag-Workmen"],"yoast_head":"\nPriority to be given to interests of workmen over that of corporation; object of Section 529-A of Companies Act, 1956 reiterated: Bom HC | SCC Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.scconline.com\/blog\/post\/2018\/11\/15\/priority-to-be-given-to-interests-of-workmen-over-that-of-corporation-object-of-section-529-a-of-companies-act-1956-reiterated-bom-hc\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Priority to be given to interests of workmen over that of corporation; object of Section 529-A of Companies Act, 1956 reiterated: Bom HC\" \/>\n<meta property=\"og:description\" content=\"Bombay High Court:\u00a0A Division Bench comprising of A.S. Oka and M.S. Sonak, JJ. dismissed an appeal filed against the order of the\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.scconline.com\/blog\/post\/2018\/11\/15\/priority-to-be-given-to-interests-of-workmen-over-that-of-corporation-object-of-section-529-a-of-companies-act-1956-reiterated-bom-hc\/\" \/>\n<meta property=\"og:site_name\" content=\"SCC Times\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/scc.online\/\" \/>\n<meta property=\"article:published_time\" content=\"2018-11-15T07:30:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2018-11-19T08:53:45+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/09\/Bombay-HC.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1331\" \/>\n\t<meta property=\"og:image:height\" content=\"887\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Bhumika Indulia\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Bhumika Indulia\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2018\/11\/15\/priority-to-be-given-to-interests-of-workmen-over-that-of-corporation-object-of-section-529-a-of-companies-act-1956-reiterated-bom-hc\/\",\"url\":\"https:\/\/www.scconline.com\/blog\/post\/2018\/11\/15\/priority-to-be-given-to-interests-of-workmen-over-that-of-corporation-object-of-section-529-a-of-companies-act-1956-reiterated-bom-hc\/\",\"name\":\"Priority to be given to interests of workmen over that of corporation; object of Section 529-A of Companies Act, 1956 reiterated: Bom HC | SCC Times\",\"isPartOf\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2018\/11\/15\/priority-to-be-given-to-interests-of-workmen-over-that-of-corporation-object-of-section-529-a-of-companies-act-1956-reiterated-bom-hc\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2018\/11\/15\/priority-to-be-given-to-interests-of-workmen-over-that-of-corporation-object-of-section-529-a-of-companies-act-1956-reiterated-bom-hc\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/09\/Bombay-HC.jpg\",\"datePublished\":\"2018-11-15T07:30:00+00:00\",\"dateModified\":\"2018-11-19T08:53:45+00:00\",\"author\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/919ec47cc1b871b362af05740398033a\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2018\/11\/15\/priority-to-be-given-to-interests-of-workmen-over-that-of-corporation-object-of-section-529-a-of-companies-act-1956-reiterated-bom-hc\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.scconline.com\/blog\/post\/2018\/11\/15\/priority-to-be-given-to-interests-of-workmen-over-that-of-corporation-object-of-section-529-a-of-companies-act-1956-reiterated-bom-hc\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2018\/11\/15\/priority-to-be-given-to-interests-of-workmen-over-that-of-corporation-object-of-section-529-a-of-companies-act-1956-reiterated-bom-hc\/#primaryimage\",\"url\":\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/09\/Bombay-HC.jpg\",\"contentUrl\":\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/09\/Bombay-HC.jpg\",\"width\":1331,\"height\":887},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2018\/11\/15\/priority-to-be-given-to-interests-of-workmen-over-that-of-corporation-object-of-section-529-a-of-companies-act-1956-reiterated-bom-hc\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.scconline.com\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Priority to be given to interests of workmen over that of corporation; object of Section 529-A of Companies Act, 1956 reiterated: Bom HC\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.scconline.com\/blog\/#website\",\"url\":\"https:\/\/www.scconline.com\/blog\/\",\"name\":\"SCC Times\",\"description\":\"Bringing you the Best Analytical Legal News\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.scconline.com\/blog\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/919ec47cc1b871b362af05740398033a\",\"name\":\"Bhumika Indulia\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/04\/Me-150x150.jpg\",\"contentUrl\":\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/04\/Me-150x150.jpg\",\"caption\":\"Bhumika Indulia\"},\"url\":\"https:\/\/www.scconline.com\/blog\/post\/author\/editor_1\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Priority to be given to interests of workmen over that of corporation; object of Section 529-A of Companies Act, 1956 reiterated: Bom HC | SCC Times","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.scconline.com\/blog\/post\/2018\/11\/15\/priority-to-be-given-to-interests-of-workmen-over-that-of-corporation-object-of-section-529-a-of-companies-act-1956-reiterated-bom-hc\/","og_locale":"en_US","og_type":"article","og_title":"Priority to be given to interests of workmen over that of corporation; object of Section 529-A of Companies Act, 1956 reiterated: Bom HC","og_description":"Bombay High Court:\u00a0A Division Bench comprising of A.S. Oka and M.S. Sonak, JJ. dismissed an appeal filed against the order of the","og_url":"https:\/\/www.scconline.com\/blog\/post\/2018\/11\/15\/priority-to-be-given-to-interests-of-workmen-over-that-of-corporation-object-of-section-529-a-of-companies-act-1956-reiterated-bom-hc\/","og_site_name":"SCC Times","article_publisher":"https:\/\/www.facebook.com\/scc.online\/","article_published_time":"2018-11-15T07:30:00+00:00","article_modified_time":"2018-11-19T08:53:45+00:00","og_image":[{"width":1331,"height":887,"url":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/09\/Bombay-HC.jpg","type":"image\/jpeg"}],"author":"Bhumika Indulia","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Bhumika Indulia","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.scconline.com\/blog\/post\/2018\/11\/15\/priority-to-be-given-to-interests-of-workmen-over-that-of-corporation-object-of-section-529-a-of-companies-act-1956-reiterated-bom-hc\/","url":"https:\/\/www.scconline.com\/blog\/post\/2018\/11\/15\/priority-to-be-given-to-interests-of-workmen-over-that-of-corporation-object-of-section-529-a-of-companies-act-1956-reiterated-bom-hc\/","name":"Priority to be given to interests of workmen over that of corporation; object of Section 529-A of Companies Act, 1956 reiterated: Bom HC | SCC Times","isPartOf":{"@id":"https:\/\/www.scconline.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.scconline.com\/blog\/post\/2018\/11\/15\/priority-to-be-given-to-interests-of-workmen-over-that-of-corporation-object-of-section-529-a-of-companies-act-1956-reiterated-bom-hc\/#primaryimage"},"image":{"@id":"https:\/\/www.scconline.com\/blog\/post\/2018\/11\/15\/priority-to-be-given-to-interests-of-workmen-over-that-of-corporation-object-of-section-529-a-of-companies-act-1956-reiterated-bom-hc\/#primaryimage"},"thumbnailUrl":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/09\/Bombay-HC.jpg","datePublished":"2018-11-15T07:30:00+00:00","dateModified":"2018-11-19T08:53:45+00:00","author":{"@id":"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/919ec47cc1b871b362af05740398033a"},"breadcrumb":{"@id":"https:\/\/www.scconline.com\/blog\/post\/2018\/11\/15\/priority-to-be-given-to-interests-of-workmen-over-that-of-corporation-object-of-section-529-a-of-companies-act-1956-reiterated-bom-hc\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.scconline.com\/blog\/post\/2018\/11\/15\/priority-to-be-given-to-interests-of-workmen-over-that-of-corporation-object-of-section-529-a-of-companies-act-1956-reiterated-bom-hc\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.scconline.com\/blog\/post\/2018\/11\/15\/priority-to-be-given-to-interests-of-workmen-over-that-of-corporation-object-of-section-529-a-of-companies-act-1956-reiterated-bom-hc\/#primaryimage","url":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/09\/Bombay-HC.jpg","contentUrl":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/09\/Bombay-HC.jpg","width":1331,"height":887},{"@type":"BreadcrumbList","@id":"https:\/\/www.scconline.com\/blog\/post\/2018\/11\/15\/priority-to-be-given-to-interests-of-workmen-over-that-of-corporation-object-of-section-529-a-of-companies-act-1956-reiterated-bom-hc\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.scconline.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Priority to be given to interests of workmen over that of corporation; object of Section 529-A of Companies Act, 1956 reiterated: Bom HC"}]},{"@type":"WebSite","@id":"https:\/\/www.scconline.com\/blog\/#website","url":"https:\/\/www.scconline.com\/blog\/","name":"SCC Times","description":"Bringing you the Best Analytical Legal News","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.scconline.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/919ec47cc1b871b362af05740398033a","name":"Bhumika Indulia","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/04\/Me-150x150.jpg","contentUrl":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/04\/Me-150x150.jpg","caption":"Bhumika Indulia"},"url":"https:\/\/www.scconline.com\/blog\/post\/author\/editor_1\/"}]}},"jetpack_featured_media_url":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/09\/Bombay-HC.jpg","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":276123,"url":"https:\/\/www.scconline.com\/blog\/post\/2022\/10\/24\/non-payment-of-full-provident-fund-and-gratuity-violative-of-s-302e-ibc-nclat-directs-jet-airways-to-make-payments\/","url_meta":{"origin":205151,"position":0},"title":"Non-payment of full provident fund and gratuity violative of S. 30(2)(e) IBC; NCLAT directs Jet Airways to make payments","author":"Editor","date":"October 24, 2022","format":false,"excerpt":"\u00a0 \u00a0 National Company Law Appellate Tribunal, Delhi: In a batch of appeals filed challenging order dated 22-06-2021 passed by the National Company Law Tribunal (NCLT), Mumbai approving the Resolution Plan submitted by \u2018Jalan Fritesch Consortium\u2019 with respect to the Corporate Debtor - \u2018Jet Airways (India) Limited\u2019 on various grounds\u2026","rel":"","context":"In "Case Briefs"","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"NCLAT","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/02\/NCLAT_New.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/02\/NCLAT_New.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/02\/NCLAT_New.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/02\/NCLAT_New.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/02\/NCLAT_New.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":296791,"url":"https:\/\/www.scconline.com\/blog\/post\/2023\/07\/14\/employees-provident-fund-gratuity-dues-even-if-funds-not-available-with-liquidator-nclat\/","url_meta":{"origin":205151,"position":1},"title":"Employees entitled to Provident Fund and Gratuity Fund dues even if funds not available with Liquidator: NCLAT","author":"Ritu","date":"July 14, 2023","format":false,"excerpt":"NCLAT held that the Provident Fund and Gratuity dues of the appellant are to be paid in full.","rel":"","context":"In "Case Briefs"","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"national company law appellate tribunal","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/05\/national-company-law-appellate-tribunal-1.webp?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/05\/national-company-law-appellate-tribunal-1.webp?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/05\/national-company-law-appellate-tribunal-1.webp?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/05\/national-company-law-appellate-tribunal-1.webp?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":6742,"url":"https:\/\/www.scconline.com\/blog\/post\/2015\/08\/17\/official-liquidator-does-not-the-authority-to-ascertain-the-entitlement-claims-of-state-financial-corporations\/","url_meta":{"origin":205151,"position":2},"title":"Official Liquidator does not have the authority to ascertain the entitlement claims of State Financial Corporations","author":"Sucheta","date":"August 17, 2015","format":false,"excerpt":"Supreme Court: While deciding the question that whether the Official Liquidator can adjudicate and quantify the claim of statutory corporations when the Company Judge has permitted them to stand outside the liquidation, the Division Bench of Vikramajit Sen and S.K. Singh, JJ., held that an Official Liquidator does not have\u2026","rel":"","context":"In "Supreme Court"","block_context":{"text":"Supreme Court","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/supremecourt\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/09\/Supreme-Court_Colour.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/09\/Supreme-Court_Colour.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/09\/Supreme-Court_Colour.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/09\/Supreme-Court_Colour.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/09\/Supreme-Court_Colour.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":213657,"url":"https:\/\/www.scconline.com\/blog\/post\/2019\/04\/18\/constitutionality-of-section-327-7-of-the-companies-act-2013-challenged-sc-issues-notice\/","url_meta":{"origin":205151,"position":3},"title":"Constitutionality of Section 327 (7) of the Companies Act, 2013 challenged; SC issues notice","author":"Prachi Bhardwaj","date":"April 18, 2019","format":false,"excerpt":"Supreme Court: The bench of Ranjan Gogoi, CJ and Sanjiv Khanna, J has issued notice to the Centre in a writ petition challenging\u00a0the Constitutional validity of Section 327 (7) of the Companies Act, 2013 qua Section 53 of the Insolvency and Bankruptcy code, to the extent that Section 327 (7)\u2026","rel":"","context":"In "Hot Off The Press"","block_context":{"text":"Hot Off The Press","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/hot_off_the_press\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/09\/Supreme-Court_Colour.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/09\/Supreme-Court_Colour.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/09\/Supreme-Court_Colour.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/09\/Supreme-Court_Colour.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/09\/Supreme-Court_Colour.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":212419,"url":"https:\/\/www.scconline.com\/blog\/post\/2019\/03\/26\/nclt-provident-fund-dues-pension-funds-and-gratuity-fund-dues-cannot-be-recovered-under-the-waterfall-mechanism\/","url_meta":{"origin":205151,"position":4},"title":"NCLT | Provident Fund dues, Pension Funds and Gratuity Fund dues cannot be recovered under the \u2018Waterfall Mechanism\u2019","author":"Bhumika Indulia","date":"March 26, 2019","format":false,"excerpt":"National Company Law Tribunal, New Delhi: The Bench of M.M. Kumar, Chief Justice (Retd.), President and S.K. Mohapatra, Member (Technical) disposed of an application while making it clear that, \u201cProvident Fund dues, Pension Funds and Gratuity Fund dues are not treated as a part of the liquidation estate and would\u2026","rel":"","context":"In "Case Briefs"","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"National Company Law Tribunal","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/10\/NCLT.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/10\/NCLT.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/10\/NCLT.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/10\/NCLT.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/10\/NCLT.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":291676,"url":"https:\/\/www.scconline.com\/blog\/post\/2023\/05\/09\/madhya-pradesh-high-court-section-529a-companies-act-1956-prevail-over-income-tax-act-1961\/","url_meta":{"origin":205151,"position":5},"title":"[Harmonious Construction] Section 529A of Companies Act, 1956 would prevail over Income Tax Act, 1961: Madhya Pradesh High Court","author":"Ritu","date":"May 9, 2023","format":false,"excerpt":"\u201c\u2026the Act of 1956 is a special Act which govern the law regarding companies only whereas IT Act is a general Act which percolates in just about every sphere of life and is applicable to all the citizen of India when it comes to payment of Income Tax.\u201d","rel":"","context":"In "Case Briefs"","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"Madhya Pradesh High Court","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/05\/madhya-pradesh-high-court.webp?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/05\/madhya-pradesh-high-court.webp?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/05\/madhya-pradesh-high-court.webp?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/05\/madhya-pradesh-high-court.webp?resize=700%2C400&ssl=1 2x"},"classes":[]}],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/205151","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/users\/8808"}],"replies":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/comments?post=205151"}],"version-history":[{"count":0,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/205151\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media\/74381"}],"wp:attachment":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media?parent=205151"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/categories?post=205151"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/tags?post=205151"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}