for example: TATA AIG

  for example: Indian Contract Act

  for example: Ratan Tata

  for example: Negotiable Instruments Act

SCHEDULE I


See Sections 17, 19(1), 20(1) and 22(1)



ORDER OF PRIORITIES



Category I-



(a) Wages, salaries and other dues payable to the employees of the Company.



(b) Deductions made from the salaries and wages of the employees of the Company for the provident fund, the Employees' State Insurance Fund, premium relating to the Life Insurance Corporation of India or for any other purpose.



(c) Arrears in relation to contributions to be made by the Company to the provident fund, the Employees' State Insurance Fund or under any other law for the time being in force providing for such contributions.



Post-take-over management period



Category II-



Principal amount of loans advanced by-



(i) the Central Government;



(ii) a State Government;



(iii) banks and financial institutions;



(iv) any other sources



Category III-



(a) Any credits availed of by the Company for the purpose of carrying on any trading or manufacturing operations, other than those specified in sub-section (2) of section 5.



(b) Any dues of State Electricity Boards or other Government or semi-Government institutions against supply of goods or services, other than those specified in sub-section (2) of section 5.



(c) Arrears of interest on loans and advances.



Category IV-



(a) Revenue, taxes, cesses, rates or other dues to the Central Government, a State Government or any local authority.



(b) Any other dues.



Category V-



Principal amount of secured loans advanced by-



(i) the Central Government;



(ii) a State Government;



(iii) banks and financial institutions.



Category VI-



Principal amount of unsecured loans advanced by-



(i) the Central Government;



(ii) a State Government;



(iii) banks and financial institutions.



Category VII-



(a) Any credit availed of by the Company for the purpose of carrying on any trading or manufacturing operations.



(b) Any dues of State Electricity Boards or other Government or semi-Government institutions against supply of goods or services.



(c) Arrears of interest on loans and advances.



(d) Revenue, taxes, cesses, rates or other dues to Central Government, a State Government or any local authority.



(e) Any other loans or dues.

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