5 Marksnovember_2022Inter
(b) Proud Limited is being wound up by the tribunal. All the assets of the company have been charged to the company's banker to whom the company owes ₹10 crores. The company owes the following amounts to others: (i) Dues to workers-₹2,50,00,000 (ii) Taxes payable to Government-₹60,00,000 (iii) Unsecured Creditors-₹1,20,00,000 You are required to compute with the 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 ₹8,00,00,000.