Maruti Limited (Acquisition and Transfer of Undertakings) Act,1980

Act No : 64

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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

Category I-

(a) Employees dues on account of unpaid salaries, wages, provident fund. Employees' State Insurance contribution or premium relating to the Life Insurance Corporation of India or any other amounts due to the employees;

(b) Revenues, taxes, cesses, rates or other dues to the Central Government, State Government and local authorities or the State Electricity Board. Category II- Amounts due to the Government of Haryana towards the cost of land.

Category Ill- Secured loans with interest.

Category IV-

(a) Deposits received from the public or from the members of the Company.

(b) Deposits towards dealership;

(c) Any credit availed of for purposes of trade or manufacturing operations;

(d) Share application monies where shares were not allotted. Category V- Any other dues.

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