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[Cites 0, Cited by 42] [Section 529A] [Entire Act]

Union of India - Subsection

Section 529A(1) in The Companies Act, 1956

(1)Notwithstanding anything contained in any other provision of this Act or any other law for the time being in force, in the winding up of a company-
(a)workmen's dues; and
(b)debts due to secured creditors to the extent such debts rank under clause (c) of the proviso to sub-section (1) of section 529 pari passu with such dues, shall be paid in priority to all other debts.