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M. R. SHAH, KRISHNA MURARI
Maharashtra State Co-operative Bank Ltd. – Appellant
Versus
Babulal Lade – Respondent
Headnote: Read headnote
ORDER :
M.R. Shah, J.
Delay condoned.
1. By Miscellaneous Application No. 1308 of 2020 in Civil Appeal No. 232 of 2016, the original appellant – applicant – The Maharashtra State Co-operative Bank Ltd. has prayed to transfer the amount of Rs. 3.52 crores deposited by the appellant – bank with this Hon’ble Court in the account of Collector, Bhandara alongwith interest. It is further prayed to direct the Collector, Bhandara to distribute the amount as per the entitlement of each and every employee of the sugar factory after proper identification proportionately.
1.1 One another I.A./M.A. is preferred by the bank permitting the bank to withdraw the excess amount so deposited by the appellant -bank with accrued interest till date, i.e., Rs. 4,95,94,737/-. In M.A. Diary No. 1755 of 2021, the bank has prayed to direct the employees of the respondent-sugar factory, whose legal dues are pending, to submit the relevant documents in support of dues and their claims so as to prove their legal dues and to furn
Proper identification and verification of claims are essential before disbursing payments to employees/legal heirs.
The main legal point established in the judgment is that the petitioner bank lacked locus standi to challenge the workers' wage order and was not entitled to interest during the liquidation period. T....
The main legal point established in the judgment is that the second charge cannot be considered equivalent to the first charge for the purpose of pari passu distribution of dues under the Companies A....
The court underscored the statutory priority of provident fund dues in insolvency, affirming the need for Liquidators to adhere strictly to the provisions of the IBC and EPF Act.
An employee has the right to choose the bank account for deposit of legal dues, but the employer is under a legal duty to honor court orders and the finality of orders passed by the competent court u....
The official liquidator must adjudicate and prioritize claims from workers and creditors according to statutory provisions, ensuring that dues to workers are paramount over other claims, aligning wit....
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