RAJ KUMAR Vs. RAVINDRA PHARMACEUTICALS PVT LTD

JUDGEMENT

(1.) Challenge in the present appeal is to an order passed by the learned Company Judge of this Court on 9.9.2004, whereby the claim of the appellants for satisfaction of Award of compensation under the provisions of the Workmen's Compensation Act, 1923 (for short 'Act'), in its entirety was dismissed holding that the dues of the appellants stand satisfied on pari passu basis with the dues of the other secured creditors.

(2.) The appellants are legal heirs of six workmen, who were amongst 8 workmen who died in an accident in the factory of the respondents on 26.12.1989. In an application to claim compensation under the Act, the Commissioner under the Act awarded to the appellants total sum of Rs. 5,34,298/- with interest as per the Award dated 20.12.1993.

(3.) On the other hand, the unit of respondent No.1(for short 'the Company') was taken up by the Haryana Financial Corporation in exercise of the powers conferred under Section 29 of the State Financial Corporation Act, 1951, on account of defaults committed by it in not discharging its liability. The respondent-Company was also ordered to be wound up on 4.2.1994 and the Official Liquidator attached to this Court, had taken over the assets of the Company.