Companies Act, 1956

Section - 441D - Application of Fund

Application of Fund.

441D. The Fund shall be applied by the Tribunal for the purpose of—

          (a)  making interim payment of workmen’s dues pending the revival or rehabilitation of the sick industrial company; or

         (b)  payment of workmen’s dues due to the workmen, referred to in sub-section (3) of , of the sick industrial company; or

          (c)  protection of assets of sick industrial company; or

         (d)  revival or rehabilitation of sick industrial company;

which in the opinion of the Tribunal are necessary or expedient for the said purposes.