Section 529(3)(c) in The Companies Act, 1956

[Cites 0, Cited by 34] [Section 529(3)] [Section 529] [Entire Act]

Union of India - Subsection

Section 529(3)(c) in The Companies Act, 1956

(c)"workmen's portion", in relation to the security of any secured creditor of a company, means the amount which bears to the value of the security the same proportion as the amount of the workmen's dues bears to the aggregate of-

(i)the amount of workmen's dues; and

(ii)the amounts of the debts due to the secured creditors.

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Union of India - Subsection

Section 529(3)(c) in The Companies Act, 1956