Section 53(1)(b) in Insolvency And Bankruptcy Code, 2016

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Union of India - Subsection

Section 53(1)(b) in Insolvency And Bankruptcy Code, 2016

(b)the following debts which shall rank equally between and among the following :-

(i)workmen's dues for the period of twenty-four months preceding the liquidation commencement date; and

(ii)debts owed to a secured creditor in the event such secured creditor has relinquished security in the manner set out in section 52;