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[Cites 0, Cited by 0] [Section 5(2)] [Section 5] [Entire Act]

Union of India - Subsection

Section 5(2)(b) in The Hindustan Tractors Limited (Acquisition and Transfer of undertaking) Act, 1978

(b)loans advanced by a bank to the Company (together with interest due thereon) on or after the date of taking over [but excluding loans advanced, on or after such date, by a bank to the Company to the extent such loans have been utilised by the Company for the repayment of, or the payment of interest on, secured loans advanced to the Company by a bank at any time before such date] [Inserted by Act 50 of 1980, Section 2 (retrospectively) ];