Question

Describe preferential creditors according to the companies act

Answer 1

Phosphorus and calcium are two elements that differ in their matter cycles from nitrogen,carbon, or sulfur cycles because they

A. are not transported in fluid systems

Answer 2

Concept Introduction:-

A sentence which has a subject, verb, object, and modifiers.

Explanation:-

A question has been provided to us

We need to find the solution to the question

Preferential creditors are those creditors who are paid in priority to creditors having a floating charge and other (non-preferential) unsecured creditors. As per Sec. $326$ of the Companies Act, $2013$. All revenues, taxes, cesses and rates due to the Central, State Government or to a local authority which have become due and payable within twelve months before the date of winding up order.

Final Answer:-

The correct answer is Preferential creditors are those creditors who are paid in priority to creditors having a floating charge and other (non-preferential) unsecured creditors.

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