Section 16(3) in Amritsar Oil Works (Aquisition And Transfer Of Undertakings) Act, 1982
(3)The debts specified in sub-section (2) shall rank equally among themselves and be paid in full, unless the balance of the amount left after meeting the liabilities referred to in sub-section (1) is insufficient to meet them, in which case they shall abate in equal proportions and be paid accordingly.
