K. JAYARAJ Vs. MADRAS LAMPS (P) LTD.

JUDGEMENT

(1.) "This application is filed by the Official Liquidator seeking the following reliefs: - -

(2.) THE Official Liquidator would further submit that prior to winding up, the respondent/Central Excise has initiated proceedings against the company and its erstwhile Managing Director Mr. A. Ganesh and passed an order directing the company to pay a sum of Rs. 1,46,06,871/ - towards Central Excise Duty, against which an appeal was also filed and in the said appeal, the Tribunal has passed an interim order directing the Official Liquidator to make the payment within two months and adjourned the matter to 18 -8 -2015 for reporting compliance. Against the said order of Tribunal, an appeal has been preferred by the Official Liquidator before this Court. In the above circumstances, this application is filed.

(3.) AS stated by the learned Official Liquidator, the Official Liquidator has got no power to comply with the orders of the Tribunal and he can only act with explicit permission from this Court. Moreover, the claims of workmen and the secured creditors have overriding preference over other claims in terms of Section 529A of the Companies Act, 1956 and the same have to be settled in priority.