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The Second Schedule

[See Sections 21, 22, 23 and 27]

Order of priorities for the discharge of liabilities in respect of a sick textile undertaking

Part A

Post-take-over management period

Category I.-

(a) Loans advanced by a bank.

(b) Loans advanced by an institution other than a bank.

(c) Any other loan.

(d) Any credit availed of for purpose of trade or manufacturing operations.

Category II.-

(a) Revenue, taxes, cesses, rates or any other dues to the Central Government or a State Government.

(b) Any other dues.

Sick Textile Undertakings (Nationalisation) Act, 1974 Back

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