232 OF 2016 The Maharashtra State Co-operative Bank Ltd. 232 OF 2016
Also Read: https://newslaw.in/case-type/civil/c-a-no-003481-003481-2022/
The Maharashtra State Co-operative Bank Ltd. 232 of 2016, the original appellant – applicant – The Maharashtra State Co-operative Bank Ltd.
At the outset, it is required to be noted that by a detailed judgment and order dated 04.12.2019 in Civil Appeal
No 232 of 2016, this Court has upheld the right of the employees of the sugar factory to receive the amount from the appellant – bank and has held that the applicant/appellant bank must pay the employees’ dues out of the sale proceeds from the auctioned property.
Also Read: https://newslaw.in/case-type/civil/acquisition-of-land-and-deemed-lapse-under-the-act-2013/
It appears that during the pendency of the aforesaid appeal and while passing the interim order, this Court directed the applicant/appellant bank to deposit 25% of the total amount of wages and pursuant to the same, the applicant/appellant bank deposited the amount of Rs.
13,89,84,334/- is due and payable to the employees, which amount includes the amount due and payable towards the statutory dues namely the provident fund, gratuity, bonus etc.
13,89,84,3374/- lying with the Industrial Court, Bhandara along with the interest accrued thereon also be transferred to the Collector, Bhandara in the account of Collector, Bhandara; (iii) The Collector, Bhandara is hereby directed to pay/disburse respective employees’ dues of salaries/wages to the concerned employees/legal heirs of the employes of the sugar factory in liquidation on proper identification and verification of the claims and to be deposited/paid directly in the bank account of the concerned employees/legal heirs of the employes of the sugar factory in liquidation along with the interest @ 7.5% on their respective dues.
Also Read: https://newslaw.in/case-type/civil/taxation-of-engineering-design-drawings-goods-or-services/
(v) The balance amount, if any, remaining after making the payment as above to the concerned employees/legal heirs of the employees of the sugar factory in liquidation as above, be dealt with in accordance with law and the balance amount be paid to the appellant – bank towards dues of the bank.
Case Title: THE MAHARASHTRA STATE CO-OPERATIVE BANK LTD. THROUGH ITS DEPUTY MANAGER AKSHAY NAGARNAIK Vs. BABULAL LADE (2023 INSC 295)
Case Number: MA-001308 / 2020
