ORDER OF PRIORITIES
Part I
Category I—
Employees’ dues on account of unpaid salaries, wages, provident fund, Employees’ State Insurance
contribution or premium relating to 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 undertaking of the
Company had been taken over by the Central Government.
Category II—
Secured loans obtained by the Company from nationalised banks and public financial institutions
during any period whether before or after the management of the undertaking of the Company had been
taken over by the Central Government.
Category III—
Amounts due to trade and other creditors in relation to any transaction which took place during the
post-take-over management period.
Part II
Category IV—
Revenue, taxes, cesses, rules or other dues to the Central Government, State Governments and local
authorities or State Electricity Board for the pre-take-over management period.
Category V—
Amounts due to trade and other creditors in relation to any transaction which took place during the
pre-take-over management period.