Pre-take-over management period
Arrears in relation to the provident fund, salaries, wages and other amounts due to the employees of the Company.
Secured loans 1[", Including loans advances, on or after the date of taking over, by a bank to the Company to the extent such loans have been utilised by the Company for the re-payment of, or the payment of interest on, secured loans advanced to the Company by a bank at any time before the date of taking over".]
Revenue, taxes, cesses, rates or any other dues to the Central Government, a State Government, a Local Authority or a State Electricity Board.
(i) Any credit availed of by the Company for the purpose of carrying on any trading or manufacturing operations.
(ii) Any other dues.
1. Ins. by Act 50 of 1980, s. 3 (w.e.f. 1-4-1978).