You are viewing the translated version of दायित्वको भुक्तानी क्रम.
Section 57
Order of payment of liability
: (1) The liquidator shall pay the liability based on the following priorities from the amount available while discharging the liability of the liquidated company in accordance with this Act:-
(a) All expenses and remuneration related to the work performed by the interim administrator appointed in accordance with sub-section (4) of section 11,
(b) Other amounts to be disbursed in accordance with paragraph-2,
(c) All expenses and remuneration related to the work done by the investigating officer appointed in accordance with sub-sections (3) and (4) of section 10,
(d) All expenses and remuneration related to the work performed by the restructuring manager appointed in accordance with sub-section (2) of section 22,
(e) all debts of the company incurred during the pendency of the Damasahi proceedings,
(f) the entire indebtedness of the Company incurred during the restructuring program of the Company,
(g) Expenses and remuneration related to the work performed by the liquidator appointed in accordance with sub-section (1) of section 37,
(h) The amount of wages and salaries due to be paid to the workers or employees of the company when there is an order to liquidate or restructure the company in accordance with this Act, but the director of the company shall not receive such amount.
(i) When there is an order to liquidate or restructure the company, the amount of home leave, sick leave, amount of gratuity and the amount due to the facility of employee savings fund to the workers or employees of the company, but the director of the company will not receive such amount.
(j) All other amounts due to debt claims accepted by the liquidator.
(2) According to sub-section (1) every obligation that falls in the order of priority should be treated equally and all the obligations that fall in that order should be discharged in full. But if it is not enough to discharge such liability in full, it will have to be discharged proportionately.
(3) If any liability of the company is insured, the amount under such insurance contract shall be paid to the entitled person.
(4) In case of complete discharge of the obligations under sub-section (1), (2) or (3), the liquidator shall pay the company from the remaining amount.The interest on the loan from the date of cancellation or restructuring order to the date of acceptance of the loan claim shall be paid and the remaining amount shall be distributed to the preferential shareholders of the company and the remaining amount shall be distributed to the other shareholders on a proportional basis.
(a) All expenses and remuneration related to the work performed by the interim administrator appointed in accordance with sub-section (4) of section 11,
(b) Other amounts to be disbursed in accordance with paragraph-2,
(c) All expenses and remuneration related to the work done by the investigating officer appointed in accordance with sub-sections (3) and (4) of section 10,
(d) All expenses and remuneration related to the work performed by the restructuring manager appointed in accordance with sub-section (2) of section 22,
(e) all debts of the company incurred during the pendency of the Damasahi proceedings,
(f) the entire indebtedness of the Company incurred during the restructuring program of the Company,
(g) Expenses and remuneration related to the work performed by the liquidator appointed in accordance with sub-section (1) of section 37,
(h) The amount of wages and salaries due to be paid to the workers or employees of the company when there is an order to liquidate or restructure the company in accordance with this Act, but the director of the company shall not receive such amount.
(i) When there is an order to liquidate or restructure the company, the amount of home leave, sick leave, amount of gratuity and the amount due to the facility of employee savings fund to the workers or employees of the company, but the director of the company will not receive such amount.
(j) All other amounts due to debt claims accepted by the liquidator.
(2) According to sub-section (1) every obligation that falls in the order of priority should be treated equally and all the obligations that fall in that order should be discharged in full. But if it is not enough to discharge such liability in full, it will have to be discharged proportionately.
(3) If any liability of the company is insured, the amount under such insurance contract shall be paid to the entitled person.
(4) In case of complete discharge of the obligations under sub-section (1), (2) or (3), the liquidator shall pay the company from the remaining amount.The interest on the loan from the date of cancellation or restructuring order to the date of acceptance of the loan claim shall be paid and the remaining amount shall be distributed to the preferential shareholders of the company and the remaining amount shall be distributed to the other shareholders on a proportional basis.