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Part B

Pre-take-over management period

Category II

Arrears in relation to the provident fund, salaries, wages and other amounts due to the employees of the Company.

Category III

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".]

Category IV

Revenue, taxes, cesses, rates or any other dues to the Central Government, a State Government, a Local Authority or a State Electricity Board.

Category V

(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).

Hindustan Tractors Limited (Acquisition and Transfer of Undertakings) Act, 1978 Back

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