THE SECOND SCHEDULE
(See sections 19,20,21, and 23)
ORDER OF PRIORITIES
Category I
(i) Employees dues on account of arrears of tripartite settlement for the period from the 1st day if January 1957 to the 31st day of May 1975
(ii) Employees' dues on account of unpaid salaries wages provided fund employees state Insurance contribution or premium relating to life Insurance Corporation of India.
Category II
Secured loans from nationalized banks and secured loans from Industrial Reconstruction Corporation of India for the post-take-over management peered.
Category III
Central Government loans for the post-take over management period
Category IV
Secured loans from nationalized banks and secured loans from financial institutions for the pre-take over management period
Category V
Revenue taxes ceases rates or other odes to Central Government, State Government and local authorities or State Electricity Board for the pre-take-over management period.
Category VI
Trade and other creditors for the pre-take-over management period.