LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Andhra Scientific Company Limited (Acquisition and Transfer of Undertakings) Act,1982

Act No : 71


Section : ORDER OF PRIORITIES FOR THE DISCHARGE OF LIABILITIES OF THE COMPANY

SCHEDULE 01: ORDER OF PRIORITIES FOR THE DISCHARGE OF LIABILITIES OF THE COMPANY
Post-take-over management period Category I Wages, salaries and other dues of the employees of the Company. Category II Loans advanced by the Central Government. Category III Any credit availed of by the Company for the purpose of carrying on any trading or manufacturing operations. Category IV Revenue, taxes, cesses, rates or any other dues to the Central Government or a State Government Pretake- over management period Category V Arrears in relation to contributions to be made by the Company to the provident fund, salaries, wages and other amounts due to the employees of the Company. Category VI Revenue, taxes, cesses, rates or any other dues, including Employees' State Insurance contributions, to the Central Government, a Local Authority or a State Electricity Board. Category VII (i) Any credit availed of by the Company for the purpose of carrying on any trading or manufacturing operations.

3. 19-12-1985 appointed as such specified date - See Gaz. of India, 19-12-1985, Pt. II, S. 4, Ext" p. 2. (No. 12).




Read All Comments

Comments