Bengal Immunity Company Limited (Acquisition and Transfer of Undertakings) Act,1984
Act No : 57
Section : ORDER OF PRIORITIES FOR THE DISCHARGE OF THE LIABILITIES OF THE COMPANY
SCHEDULE 01: ORDER OF PRIORITIES FOR THE DISCHARGE OF THE LIABILITIES OF THE COMPANY
THE SCHEDULE
(See sections 19-20-21-and23-)
PART A POST--TAKE
--over and pre--take--over periods
Category I- Wages. salaries and other dues of the employees of the Company for the post-take-over period as well as arrears in relation to wages, salaries, provident fund and other dues of the employees for the pre-take-over period, including the contribution to be made to the Employees' State Insurance Fund and additional dearness allowance payable to employees.
PART B POST--TAKE--OVER PERIOD
Category II-
(a) Loans advanced by the Central Government and interest due thereon.
(b) Loans advanced by banks and financial institutions, guaranteed by the Central Government and thereon.
(c) Other loans. Category III- Credit availed of for purposes of trade or manufacturing operations.
Category IV-
(a) Revenue, taxes, cesses, rates or other dues lo the Central Government or a State Government.
(b) Any other dues.
PART C PRE--TAKE --OVER PERIOD
Category V-
Principal amount of loans advanced by banks and financial institutions and interest due thereon up to and including 18th May. 1978. that is to say, the date on which the notified order under section 18A of the Industries (Development and Regulation) Act. 1951-. was published in the Official Gazette.
Category VI-
Revenue, taxes, cesses, rates or any other dues payable to the Central Government or a State Government or a local authority.
Category VII-
Amounts due by way of interest on loans referred to in category V after 18th May.1978 up to the date preceding the appointed day.
Category VIII-
(a) Any other credit availed of for purposes of trade or manufacturing operations.
(b) Any other dues.
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