creditor the amount due to him on the due date, on the insolvency of the debtor the creditor becomes his preferential creditor. One has only ... creditor. But what the appellants are claiming is not that they are creditors, but that they are preferential creditors, and in deciding whether the appellants
secured
creditors rank pari-pasu and are treated as over-riding preferential
creditors whose debts shall be paid in priority to all other debts ... assets are left in surplus after payment of the preferential creditors
under sections 529 , 529(A) and 530 of the Companies Act, 1956 are
made
secured
creditors rank pari-pasu and are treated as over-riding preferential
creditors whose debts shall be paid in priority to all other debts ... assets are left in surplus after payment of the preferential creditors
under sections 529 , 529(A) and 530 of the Companies Act, 1956 are
made
secured
creditors rank pari-pasu and are treated as over-riding preferential
creditors whose debts shall be paid in priority to all other debts ... assets are left in surplus after payment of the preferential creditors
under sections 529 , 529(A) and 530 of the Companies Act, 1956 are
made
secured
creditors rank pari-pasu and are treated as over-riding preferential
creditors whose debts shall be paid in priority to all other debts ... assets are left in surplus after payment of the preferential creditors
under sections 529 , 529(A) and 530 of the Companies Act, 1956 are
made
unsecured creditors have also settled their claims against Bedrock. Thus some of the creditors have ceased to be creditors of Bedrock on 31st March ... preferential and unsecured creditors, there being no secured creditors as on 31st March, 1996. In the meeting of the creditors held on 30th March
filed for the purpose of having meetings of the shareholders, secured creditors, preferential creditors, fixed depositors, preference shareholders, debenture holders, sundry creditors and workers ... supported by all the concerned parties, i.e., shareholders, secured creditors, unsecured creditors, preferential creditors as well as Kruti Samiti and the recognized Union
members of the provident fund, founded by the company, they were preferential creditors and entitled to rank as such in the winding ... respect of the deposit and therefore claimed to rank as preferential creditors. The Court negatived the contention. In the course of his judgment
have a preferential rights over the secured creditors or other unsecured creditors. The preferential right qua unsecured creditors would be if the predicates of Section ... applicable. Various other provisions gives certain priority to secured creditors and other unsecured creditors, preferential payment in Section 530 . Therefore, the respondent
question whether claimant No. 51 is entitled to rank as a preferential creditor. The Company in liquidation did only life assurance business. A policy ... entitled to rank as a preferential creditor. That contention is opposed by the other creditors of the Company.
2. No decision, English or Indian, directly
