ORDER :

We have heard learned counsel for the parties. The question involved is singularly whether the dues towards provident fund under the provisions of the Employees' Provident Fund and Miscellaneous Provisions Act, 1952 (for short 'the 1952 Act') would get priority over debts. Reference has been placed by the appellant on decisions of this Court in Maharashtra State Cooperative Bank Limited v. APFC and Others, AIR 2010 SC 868 : (2009) 10 SCC 123 and Maharashtra State Cooperative Bank Ltd. v. Kannad Sahakari Sakhar Karkhana Ltd. and Others (2014) 14 SCC 456.

2. The appellant had questioned the provisions contained in Section 12-A(9) of the Andhra Pradesh Co-operative Societies Act, 1964 (for short 'the 1964 Act') as amended by virtue of Amendment made in the year 2003.

3. Section 12-A(9) of the 1964 Act is extracted hereunder:

"The proceeds realised from the transfer of assets or assets and liabilities, in whole or in part, of the society concerned, shall be applied in discharge of the liabilities of such society in the following order of priority, namely:

(i) all expenses incurred for preservation and protection of the assets;

(ii)(a) dues payable to workmen and employees;

(b) debts p