(1) The State Government shall, within thirty days from the date of publication of the notification appointing the Commissioner, pay in cash to the Commissioner, for payment to the owner of the textile undertaking an amount equivalent to the amount determined by the Commission.
(2) A deposit account shall be opened by the State Government, in favour of the Commissioner, in the Public Account of the State, and the amount paid to the Commissioner under sub-section (1) shall be deposited by him to the credit of the said deposit account in the Public Account of the State and thereafter the said deposit account shall be operated by the Commissioner.
(3) Records shall be maintained by the Commissioner in relation to which payments have been made to him under this Act.
(4) Interest accruing on the amount standing to the credit of the deposit account referred to in sub-section (2) shall accrue to the benefit of the owner of the textile undertaking.
17. 1[Every person having a claim against the owner of the textile undertaking shall prefer such claim before the Commissioner within thirty days from the date of publication of a notice issued by the Commissioner inviting such claims:]
Provided that if the Commissioner is satisfied that the claimant was Appointment of Commissioner of Payments Payment by the State Government to the Commissioner.
Claim to be made to the Commissioner
1. Substituted by the Bhaskar Textile Mills (Acquisition and Transfer) Amendment and Validation Act, 1990 (Orissa Act 18 of 1990) S. 2, came into force, w.e.f. the 12th March 1983 8 prevented by sufficient cause from preferring the claim within the said period of thirty days, he may entertain the claim within a further period of thirty days but 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 shall have precedence over all other categories and category II shall have precedence over category III and so on;
(b) the claims specified in each category except category III shall rank equally and be paid in full,, but if the amount is insufficient to meet such claims in Kill, they shall abate in equal proportions and be paid accordingly;
(c) the liabilities specified in category III shall be discharged subject to the priorities specified in this section, in accordance with the terms of the secured loan and the priority inter se, of such loans; and
(d) the question of payment of liability with regard to a matter specified in a succeeding category shall arise if a surplus is left after meeting all the liabilities specified in the immediately preceding category.