A short but important question that arises in this matter is, up to which date the dues of workmen are to be calculated when a Company is wound up. Whether the Companies Act, 1956 provides the date of passing the order of winding up as the only contingency or whether the Act provides any other event prior to the date of order of winding up.

2. This Company application is taken out by workmen of M/s Swadeshi Mills Co. Ltd. These workmen are five out of the 735 workmen who were employed in the Mill. They had filed proof of debt before the Official Liquidator. They inter alia claimed that they should be paid up to the date of the order of winding up. The Official Liquidator has paid them till the date of the appointment of Provisional Liquidator, taking that as the relevant date. Since this view taken by the Official Liquidator affects large number of workmen of the Mill under liquidation, and that the issue raises question of law of general importance, the learned counsel for the parties have advanced arguments at great length and have submitted written submissions. Their assistance is appreciated.

3. M/s Swadeshi Mills Co. Ltd. was one of the leading Mills in Mumbai. The