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Showing contexts for: paripassu in Punjab Wireless Systems Limited (In ... vs The Indian Overseas Bank And Ors. on 30 March, 2005Matching Fragments
30. I am further of the view that the workmen have over-riding claim to that of the secured creditors as provided by Section 529-A of the Act. The dues claimed by the workmen and that due to the secured creditors are to be treated paripassu. The dues of the workmen have to be treated as prior to all other dues. The Official Liquidator has foiled to associate the workmen in the process of sale of the company. The interest of the workmen is in no way insignificant than the interest of the secured creditors in the company under liquidation. For that reason also, the order dated 10.12.2004 requires to be recalled.