ORDER OF PRIORITIES FOR THE DISCHARGE OF LIABILITIES OF THE COMPANY
Category I—
(a) Wages, salaries and other dues payable to the employees of the Company.
(b) Arrears in relation to contributions to be made by the Company to the Provident Fund,
Employees State Insurance Fund, Life Insurance Corporation premium and any other arrear under any
law for the time being in force (excluding gratuity).
Category II—
Principal amount of secured loans advanced by—
(i) Central Government;
(ii) State Government;
(iii) Banks;
(iv) public financial institutions.
Category III—
Principal amount of unsecured loans advanced by—
(i) Central Government;
(ii) State Government;
(iii) Banks;
(iv) public financial institutions.
Category IV—
(a) Any credit availed of by the Company for the purpose of carrying on any trading or
manufacturing operations.
(b) Any dues payable to the State Electricity Boards or other Government or semi-Government
institutions for supply of goods or services.
(c) Arrears of interest on loans and advances.
Category V—
(a) Revenue, taxes, cesses, rates or other dues to Central Government, State Government and
local authorities.
(b) Any other loans or dues.