AIR CORPORATIONS ACT, 1953 [Act, No. 27 of 1953] [28th May, 1953] PREAMBLE An Act to provide for the establishment or Air Corporations, to facilitate the acquisition by the Air Corporations of undertakings belonging to certain existing Air Companies and generally to make further and better provisions for the operation of air transport services. BE it enacted by Parliament as follows:--
View Complete Act List Judgments citing this section.....means any subsidiary of the corporation or any person with whom the corporation has made an agreement in accordance with clause (h) of sub-section (2) of section 7; (iv) 'Corporations' means 'Indian Airlines' and 'Air India International' established under section 3, and "Corporation" means either of the Corporations; (v) the expression "existing air companies" means the Air India Ltd., the Air Services of India Ltd., the Airways (India) Ltd., the Bharat Airways Ltd., the Deccan Airways Ltd., the Himalayan Aviation Ltd., the Indian National Airways Ltd., the Kalinga Airlines and the Air India Inter-national Ltd., and "existing air company" means any of the existing air companies; (vi) "prescribe" means prescribed by rules made under this Act; (vii) "regulations" means regulations made by either of the Corporations under section 45; (viii) "Scheduled air transport service" means an air transport service undertaken between the same two or more places and operated according to a published time table or with flights so regular or frequent that they constitute a recognisably systematic series, each flight being open to use by members of the public; (ix).....
View Complete Act List Judgments citing this sectionNo act or proceeding of either of the Corporations shall be deemed to be invalid by reason merely of any vacancy in, or any defect in the Constitution of, the Corporation.
View Complete Act List Judgments citing this sectionIn carrying out any of duties vested in it by this Act, each of the Corporations shall act so far as may be on business principles.
View Complete Act List Judgments citing this sectionEach of the Corporations shall have power, subject to the provisions of this Act, to spend such sums as it thinks fit on objects or for purposes authorised by this Act and such sum shall be treated as expenditure out of the funds of that Corporation.
View Complete Act List Judgments citing this section.....with standing anything contained in theCompanies Act, 1956, the auditor of any company formed by either of theCorporations under clause (kk) of sub-section(2) of section 7 shall beappointed or re-appointed by the Corporation concerned on the advice of theComptroller and Auditor General of India. (2) Save as otherwise provided in sub-section (1),in addition to the provisions contained in the Companies Act, 1956, relating tothe audit of the accounts of any company, the following provisions shall applyto the audit of the accounts of any company referred to in subsection (1),namely :-- (i) the Comptroller and Auditor General of Indiashall have power to conduct a supplementary or test audit of the company'saccounts by such person or persons as he may authorise in this behalf; and forthe purposes of such audit to require information to be furnished to any personor persons so authorised, on such matters by such person or persons and in suchform as the Comptroller and Auditor General may, by general or special order,direct; (ii) the author appointed or re-appointed undersub-section (1) shall submit a copy of his audit report to the Comptroller andAuditor General of India who shall.....
View Complete Act List Judgments citing this section.....restricting the use of such property in any manner shall be deemed to have been withdrawn. (3) Subject to the other provisions contained in this Act all contracts and working arrangements which are subsisting immediately before the appointed date and affecting any of the existing air companies shall, in so far as they relate to the undertaking of that company, cease to have effect or be enforceable against that company or any person who was surety or had guaranteed the performance thereof, and shall be of as full force and effect against or in favour of the Corporation in which the undertaking has vested by virtue of this Act and enfroceable as fully and effectually as if, instead of the company, the Corporation had been named therein or had been a party thereto. (4) Subject to the other provisions contained in this Act, any proceeding or cause of action pending or existing immediately before the appointed date by or against any of the existing air companies in relation to its undertaking may as from that date be continued and enforced by or against the Corporation in which it has vested by virtue of this Act as it might have been enforced by the against that company if.....
View Complete Act List Judgments citing this sectionWith effect from the appointed date, all licences granted under the Indian Aircraft Act, 1934 (22 of 1934) or under the rules made thereunder for the operation of scheduled air transport services shall cease to be valid.
View Complete Act List Judgments citing this section.....bookdebts, liabilities and agreements to, or to vest the same in, the Corporation. (3) Either Corporation may by notice in writingwithin a period of 1 [six months] after submission of the particularsreferred to in sub-section (1) intimate to the existing air company submittingthe particulars that such of the book debts and investments as are specified inthe noticed are not included in the properties vesting in the Corporation whereuponthe compensation provided by section 25 of this Act and the Schedule theretoshall be reduced by the amount of such excluded book debts and investments butthe right of such existing air company to recover and retain such excluded bookdebts shall remain unaffected by this Act. ________________________ 1.Substituted for the words"ninety days" by the Air Corporations (Amdt.) Act, 1954 (10 of 1954), S. 2(w.r.e.f. 30-1-1954)
View Complete Act List Judgments citing this section(1) Where it appears to either of the Corporations that the making of any such agreements as is referred to in section 22 under which the Corporation has or will have or may have liabilities was not reasonably necessary for the purposes of the activities of the existing air company or has not been entered into in good faith, the Corporation may; within1[one year] from the appointed date; apply to the Tribunal for relief from such agreement, and the Tribunal, if satisfied after making such inquiry into the matter as it thinks fit that the agreement was not reasonably necessary for the purposes of the activities of the existing air company or has not been entered into in good faith, may make an order cancelling or varying the agreement on such terms as it may think fit to impose and the agreement shall thereupon have effect accordingly. (2) All the parties to the agreement which is sought to be cancelled or veried under this section shall be made parties to the proceeding. ________________________ 1. Substituted for the words "six months" by the Air Corporations (Amdt.) Act, 1954 (10 of 1954), S. 4 (w.r.e.f. 30-1-1954).
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