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

Union of India - Subsection

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

(e)any debt incurred by the Company during any period commencing on and from the date of taking over, not being a debt falling under clause (a), clause (b), clause (c) or clause (d) or specified in Category I of the Schedule, shall, on and from the appointed day, be the liability of the Central Government, or the State Government, or the Government company aforesaid and shall be discharged by the Central Government or the State Government, or the Government company aforesaid as and when repayment of such loans becomes due or as and when such wages, salaries and other dues and debt become due and payable.