- (1.) These bunch of applications pertain to the direction to pay the legitimate dues to the secured creditors from the sale proceeds lying with the official liquidator in terms of the adjudication of claims on the basis of proof submitted with the official liquidator.
(2.) Apart from the letter of direction sought by the official liquidator, the secured creditors have also approached by filing the applications for release of their dues on pro rata basis.
(3.) In course of the arguments, all the parties who intervened, raised a point whether the contract labourers can be brought within the ambit of Section 529, 529A and 530 of the Companies Act. According to the banks who are arraigned as secured creditors denied the right of the contractual labours as a workman within the meaning of aforesaid provisions of the Companies Act and have further assailed the decision of the official liquidator in bringing those contract labourers within the definition of the workmen under the Companies Act.;