Secured creditor entitled to disbursement despite not participating in winding up proceedings

HIGH COURT OF GUJARAT Gujarat Steel Tube Employees Union & 1 Versus O.L. of Gujarat Steel Tubes Ltd. (In Liqn.) & 7 K.M. THAKER, J. CO. APPLICATION NO. 264 OF 2008 CO. PETITION NO. 7 OF 2001 AUGUST 6, 2012 JUDGMENT COMA/264/2008 (I) Subject and Relief:- 1. The applicant unions “Gujarat Steel Tube Employees Union” and “Gujarat Mazdoor Sabha” (hereinafter referred to as the “applicant unions”) have taken out Judges Summons dated 17.3.2008 which is registered as Company Application No.264 of 2008 under Section 456 (1) of the Companies A...