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The Companies Act, 1956

Winding Up (Section 425 to 560)

Section 520 Costs of voluntary winding up.

Section 520 Costs of voluntary winding up.

All costs, charges and expenses properly incurred in the winding up, including the remuneration of the liquidator, shall, subject to the lights of secured creditors, if any, be payable out of the assets of the company in priority to all other claims.