(7) The Central Government, or the Braithwaite and Company ' Limited, or the Government company, as the case may be, shall be entitled < to receive up to the specified date, to the exclusion of all other persons, ' any money due to the Company, in relation to its undertakings which , have vested in the Central Government, or the Braithwaite and Company Limited, or the Government company, realised after the appointed day notwithstanding that the realisation pertains to a period prior to the appointed day.
(2) The Central Government, or the Braithwaite and Company Limited, or the Government company, as the case may be, may make a claim to the Commissioner with regard to every payment made by it after the appointed day for discharging any liability of the Company in relation Appointment of Commissioner of PHV ments Payment by the Central Government to the Commissioner Certain powers of ihe Central Government or Braithwaite and Company Limited or Government company.
378 THE GAZETTE OF INDIA . EXTRAORDINARY [PART TT— Claims to be made to the Commissioner.
Pnority of claims Examination of claims Admission 01 rejection of claims to any period prior to the appointed day; and every such claim shall have priority in accordance with the priorities attaching, under this Ordinance, to the matter in relation to which such liability has been discharged by the Central Government, or the Braithwaite and Company Limited, or the Government company
(3) Save as otherwise provided in this Ordinance, the liabilities of the Company in respect of any tiansaction prior to the appointed day, which have not been discharged on or before the specified date, shall be the liabilities of the Company.
17. Every person having a claim against the Company shall prefer such claim before the Commissioner within thirty days from the specified date :
Provided that if the Commissioner is satisfied that the claimant was prevented by sufficient cause from preferring the claim within the said period of thirty days, he may entertain the claim within a fuither period of thirty days and not thereafter.
18. The claims arising out of the matters specified in the Schedule shall have priorities in accordance with the following principles, namely—
(a) Category I will have precedence over all other categories and Category TT will have precedence over Category HI, and so on ;
(fc) the claims specified in each of the categories shall rank equally and be paid in full, but, if the amount is insufficient to meet such claims in full, they shall abate in equal proportions and be paid accordingly ,
(c) the question of discharging any liability with regard to a matter specified in a lower category shall arise only if a surplus is left after meeting all the liabilities specified in the immediately higher category.