Question
Beekey Limited is being wound up by the tribunal. All the assets of the company have been charged in favour of the company's bankers
Beekey Limited is being wound up by the tribunal. All the assets of the company have been charged in favour of the company's bankers to whom the company owes 2.50 crores. The company owes following amounts to others: Dues to workers- Taxes payable to Government- Unsecured creditors - 62,50,000 *15,00,000 *30,00,000 You are required to compute with reference to the provisions of the Companies Act, 2013, the amount each kind of creditors is likely to get if the amount realized by the official liquidator from the secured assets and available for distribution among creditors is only *2,00,00,000.
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Business Law Text and Cases
Authors: Kenneth W. Clarkson, Roger Miller, Frank B. Cross
14th edition
978-1305967250, 1305967259, 978-1337514422, 133751442X, 978-1337374491
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