JUDGMENT :

K.A. Puj, J.

Since common issue is raised by the learned advocates appearing for the workmen with regard to their exclusive right under Section 529-A of the Companies Act, 1956 of satisfaction of their dues prior to the right of any other Creditors either Secured or Unsecured, all these applications are heard together and the said issue is decided by this common judgment and order.

2. Company Application Nos. 362 of 2004 and 232 of 2005 are filed by Gujarat Steel Tubes Employees Union and Gujarat Mazdoor Sabha, Ahmedabad. In Company Application No. 362 of 2004, the applicants have sought for the direction to the Official Liquidator of Gujarat Steel Tubes Limited (In Liquidation) to disburse an amount of Rs. 12 Crores realised from the sale of plant and machinery amongst the employees as a part payment towards their legal dues, claim for which is pending with the Official Liquidator.

3. In Company Application No. 232 of 2005, a declaration was sought for from this Court to the effect that the members of the applicant-Union are entitled to the entire amount of Rs. 58,37,77,872/- as admissible claims and have priority above all other creditors including secured creditors. The a