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[Cites 0, Cited by 0] [Section 530(5)] [Section 530] [Entire Act]

Union of India - Subsection

Section 530(5)(b) in The Companies Act, 1956

(b)so far as the assets of the company available for payment of general creditors are insufficient to meet them, have priority over the claims of holders of debentures under any floating charge created by the company, and be paid accordingly out of any property comprised in or subject to that charge.