Supreme Court · 2013 INSC 317 · Decided 7 May 2013
Bank of Maharashtra v. Pandurang Keshav Gorwardkar & Ors
- Court
- Supreme Court of India
- Citation
- 2013 INSC 317 · [2013] 3 S.C.R. 269
- Case number
- CIVIL APPEAL No. 7045/2005
- Decided
- 7 May 2013
- Bench
- RAJENDRA MAL LODHA, JASTI CHELAMESWAR, MADAN B. LOKUR (3-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- Companies Act Section 529A, 529(1)(c), 447
Headnote
RECOVERY OF DEBTS DUE TO BANKS AND A B FINANCIAL INSTITUTIONS ACT, 1993: C ss. 17 and 19 (19) of 1993 Act rlw ss.529(1)(c), proviso and 529-A of Companies Act - Recovery of debts of company by bank/financial institution - Claim of workmen - Held: Where a company is in liquidation, a statutory in favour of workmen in respect qf their dues over security of every secured creditor and this charge is pari passu with that of secured creditor - Such statutory charge is to the extent of workmen's portion in relation to security held by secured creditor of debtor company - This position is
Judgments are the courts' own published copies, provided for study; they are not certified copies. Source: Indian Supreme Court & High Court Judgments, Dattam Labs (CC-BY-4.0)