Brentford Electric (India) Limited (Acquisition and Transfer of Undertakings) Act : PRIORITY OF CLAIMS Indian

Brentford Electric (India) Limited (Acquisition and Transfer of Undertakings) Act,1987

Act No : 36

Section : PRIORITY OF CLAIMS

SECTION 18: PRIORITY OF CLAIMS

The claims made under section 17-shall have priorities in accordance with the following principles namely:--

(a) Category I shall have precedence over all other categories and Category III shall have
preceded over Category

(b) the claims specified in each of the
categories shall rank equally and be paid in full, but, if the amount )_ insufficient to meet such claims in full, they shall abate in equal proportions and be paid accordingly; wd (c)