law: Companies Act, 2013 
  326.
  
    Overriding
  
  preferential payments.
  1.      Notwithstanding
  
  anything contained in this Act or any other law for the time being in force, in
  
  the winding up of a company,—
  a.     
  
    workmen’s
  
  dues; and
  b.    
  
    debts
  
  due to secured creditors to the extent such debts rank under clause (iii )
  
  of the proviso to sub-section (1 ) of section 325 pari passu with
  
  such dues, shall be paid in priority to all other debts:
  Provided
  
  that in case of the winding up of a company, the sums towards wages or salary
  
  referred to in sub-clause (i ) of clause (b ) of sub-section (3 )
  
  of section 325, which are payable for a period of two years preceding the
  
  winding up order or such other period as may be prescribed, shall be paid in
  
  priority to all other debts (including debts due to secured creditors), within
  
  a period of thirty days of sale of assets and shall be subject to such charge
  
  over the security of secured creditors as may be prescribed.
  2.      The debts payable
  
  under the proviso to sub-section (1 ) shall be paid in full before any
  
  payment is made to secured creditors and thereafter debts payable under that
  
  sub-section shall be paid in full, unless the assets are insufficient to meet
  
  them, in which case they shall abate in equal proportions.