JITENDRA NATH SINGH vs OFFICIAL LIQUIDATOR .

The Supreme Court interpreted Sections 529 and 529A of the Companies Act, 1956, clarifying that secured creditors and workmen have a pari passu charge over all properties of a company undergoing liquidation, not just those offered as security. The Court upheld the High Court's decision, affirming that the distribution of sale proceeds from the company's assets should be made proportionately between secured creditors and workmen. The appeal was dismissed, reinforcing the established legal principle regarding the treatment of claims in liquidation proceedings.