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[Cites 0, Cited by 0] [Section 327] [Entire Act]

Union of India - Subsection

Section 327(5) in The Companies Act, 2013

(5)In the event of a landlord or other person distraining or having distrained on any goods or effects of the company within three months immediately before the date of a winding up order, the debts to which priority is given under this section shall be a first charge on the goods or effects so distrained on or the proceeds of the sale thereof:Provided that, in respect of any money paid under any such charge, the landlord or other person shall have the same rights of priority as the person to whom the payment is made.