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The Companies Act, 1956

Winding Up (Section 425 to 560)

Section 441D Application of Fund.

Section 441D Application of Fund.

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 section 529, 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.