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Rehabilitation and Insolvency Fund enables contributors to seek withdrawal for worker payments, asset protection and incidental costs during insolvency proceedings. Establishes a Rehabilitation and Insolvency Fund to finance rehabilitation, revival and liquidation of sick companies, funded by government grants, company contributions, other receipts and investment income. Contributing companies subject to proceedings under this Chapter or Chapter XX may apply to the Tribunal to withdraw up to their contribution for workmen payments, asset protection or incidental costs. The Fund is managed by an administrator appointed by the Central Government in the prescribed manner.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
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<h1>Rehabilitation and Insolvency Fund enables contributors to seek withdrawal for worker payments, asset protection and incidental costs during insolvency proceedings.</h1> Establishes a Rehabilitation and Insolvency Fund to finance rehabilitation, revival and liquidation of sick companies, funded by government grants, company contributions, other receipts and investment income. Contributing companies subject to proceedings under this Chapter or Chapter XX may apply to the Tribunal to withdraw up to their contribution for workmen payments, asset protection or incidental costs. The Fund is managed by an administrator appointed by the Central Government in the prescribed manner.
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