Section 29(2) in The Ganesh Flour Mills Company Limited (Acquisition And Transfer Of Undertakings) Act, 1984
(2)Notwithstanding such repeal, anything done or any action taken under the said Ordinance shall be deemed to have been done or taken under the corresponding provisions of this Act.THE SCHEDULE[See sections 16, 17 and 19(2)]ORDER OF PRIORITIES FOR THE DISCHARGE OF LIABILITIES OF THE COMPANYCategory I-(a)Wages, salaries and other dues payable to the employees of the Company.(b)Deductions made from the salaries and wages of the employee for provident fund, Employees State Insurance Fund, contribution premium relating to Life Insurance Corporation of India or for any other purposes.Category II-Secured Loans.Category III-Revenue, taxes, cesses, rates or other dues to the Central Government, a State Government, a local authority or a State Electricity Board.Category IV-Any other loans or dues.
