A Company is in the process of Liquidation under Insolvency and Bankruptcy Code, 2016. Citing relevant provisions of the Code state where the following will rank in the order of priority on distribution of the assets of

As per Section 53 of the Insolvency and Bankruptcy Code, 2016 following is the order of priority: (i) Costs of Liquidation (ii) Workmen's dues for the period of 24 months preceding the liquidation commencement date - along with secured creditors (iii) Employees dues for the period of 12 months preceding the liquidation commencement date - only 12 months shall be considered and balance shall be payable out of the remaining dues. Therefore, 'Costs of Liquidation' will rank first in the order of priority.