(4)The provisions of sub-section (3) shall not debar the liquidator from parting with such assets or properties for the purpose of––(a)the payment of the tax payable by the company;(b)making any payment to secured creditors whose debts are entitled under law to priority of payment over debts due to Government on the date of liquidation; or(c)meeting such costs and expenses of the winding up of the company,as are in the opinion of the Principal Chief Commissioner or Chief Commissioner or Principal Commissioner or Commissioner, reasonable.
