Beekey Limited is being wound up by the tribunal. All the assets of the company have...
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Beekey Limited is being wound up by the tribunal. All the assets of the company have been charged in favour of the company's bankers to whom the company owes 2.50 crores. The company owes following amounts to others: Dues to workers- Taxes payable to Government- Unsecured creditors - 62,50,000 *15,00,000 *30,00,000 You are required to compute with reference to the provisions of the Companies Act, 2013, the amount each kind of creditors is likely to get if the amount realized by the official liquidator from the secured assets and available for distribution among creditors is only *2,00,00,000. Beekey Limited is being wound up by the tribunal. All the assets of the company have been charged in favour of the company's bankers to whom the company owes 2.50 crores. The company owes following amounts to others: Dues to workers- Taxes payable to Government- Unsecured creditors - 62,50,000 *15,00,000 *30,00,000 You are required to compute with reference to the provisions of the Companies Act, 2013, the amount each kind of creditors is likely to get if the amount realized by the official liquidator from the secured assets and available for distribution among creditors is only *2,00,00,000.
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Section 326 of the Companies Act 2013 is talks about the overriding prefere... View the full answer
Related Book For
Business Law Text and Cases
ISBN: 978-1337374491
14th edition
Authors: Kenneth W. Clarkson, Roger Miller, Frank B. Cross
Posted Date:
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