Holdings Act, 1960
29. Distribution of compensation money.
(1) The compensation payable to a holder under Section 16 shall be distributed between the secured reditors ... such reditors holding the same order of priority, it shall be distributed rateably between them in proportion to the amounts determined due. (2) The amount
decree-holder or any person entitled to share in a rateable distribution of the assets or whose interests are affected by the sale, may apply
have been made to secured creditors under clause (b) shall be distributed rateably amongst the unsecured creditors in payment of the amounts payable under
should, however, be allowed where an application for rateable distribution has been filed
Lands) Act, 1950
26. Distribution of compensation amount.
- The compensation payable to the proprietor under Chapter III shall be distributed between the secured creditors ... such creditors holding the same order of priority, it shall be distributed rateably between them in proportion to the amounts determined
this rule, claims enforceable under an attachment include claims for the rateable distribution of assets under Rule
account of any unsecured debt, the sale-proceeds thereof shall be distributed as follows :
(a) in the first instance in payment of any amounts ... recovery has been made inclusive of costs of the proceedings; (b) secondly, rateably amongst the other unsecured creditors, towards any amounts that have fallen
