(1) Any person who had any claim whatsoever to any property or other asset of the said Institute on the appointed day, may make an application to such officer as may be appointed by the Government (hereinafter called the ‘adjudicating Officer’), for determination of his claim and the compensation payable therefor by the Government.
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(2) Any person to whom any sum of money was due by the said Institute on the appointed day, may make an application to the adjudicating Officer referred to in sub-section (1) for settlement of his dues.
(3) The adjudicating Officer, on receipt of any application, either under sub-section (1) or sub-section (2) shall, after duly verifying the claim made by the applicant and after satisfying himself after such inquiry as he deems fit, that the person claiming had a right to make the claim, determine the amount payable by the Government as compensation to such person.
(4) Any person aggrieved by an order of the adjudicating Officer under this section, may appeal to the Administrative Tribunal constituted under the Goa Administrative Tribunal Act, 1965 (Act 6 of 1965) and the decision of the Administrative Tribunal in appeal shall be final and binding on the parties.