In force · As amended up to 2026-08
30. Priority of debts.— Notwithstanding anything contained in the Presidency Towns Insolvency Act, 1909 (3 of 1909), the Provincial Insolvency Act, 1920 (5 of 1920), the Companies Act, 1956 (1 of 1956), or the Partnership Act, 1932 (9 of 1932), any compensation payable under this Act shall have priority over all other unsecured debts.
Source: India Code