Jute Companies (Nationalisation) Act,1980

Act No : 62

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Section : THE SCHEDULE

SCHEDULE 2 THE SCHEDULE

[See sections 17-,19 (1)-,20(1)-,22 (1)-and25 (1)-]ORDER OF PRIORITIESPART 1 Category l- Employees' dues on account of unpaid salaries, wages provident fund, Employees' State Insurance contribution or premium relating to the Life Insurance Corporation of India and any other amounts due to employees in respect of any period whether before or after the management of the undertakings of any jute Company had been taken over by the Central Government. Category II- Secured loans obtained by any jute Company from nationalised banks and public financial institutions during any period whether before or after the management of the undertakings of that Company had been taken over by the Central Government. Category III- Any credit availed of for trade or manufacturing purpose during the post takeover management period. PART 2 Category IV- Revenue, taxes, cesses, rates or other dues to the Central Government, State Governments and local authorities or State Electricity Board for any period whether before or after the management of the undertakings of any jute Company had been taken over by the Central Government. Category V- Any credit availed of for trade or manufacturing purpose during the pre-takeover management period.

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