(1) This Act may be called the Inchek Tyres Limited and National Rubber Manufacturers Limited (Nationalisation) Act, 1984. (2) It shall be deemed to have come into force on the 14th day of February, 1984.
View Complete Act List Judgments citing this sectionEvery person having a claim against either of the two companies with regard to any of the matters specified in the Second Schedule pertaining to any undertakings owned by it, 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, be may entertain the claim within a further period of thirty days but not thereafter.
View Complete Act List Judgments citing this sectionThe claims arising out of the matters specified in the Second 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 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; and (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.
View Complete Act List Judgments citing this section(1) On receipt of the claims made under section 18, the Commissioner shall arrange the claims in the order of priorities specified in the Second Schedule and examine the same in accordance with such order. (2) If, on examination of the claims, the Commissioner is of opinion that the amount paid to him under this Act is not sufficient to meet the liabilities specified in any lower category, he shall not be required to examine the claims in respect of such lower category.
View Complete Act List Judgments citing this section.....on affidavits; (d) the issuing of any commission for the examination of witnesses. (6) Any investigation before the Commissioner shall be deemed to be a judicial proceeding within the meaning of sections 193 and 228 of the Indian Penal Code and the Commissioner shall be deemed to be a civil court for the purposes of section 195 and Chapter XXVI of the Code of Criminal Procedure, (7) A claimant who is dissatisfied with the decision of the Commissioner may prefer an appeal against such decision to the principal civil Court of original jurisdiction within the local limits of whose jurisdiction the registered office of the concerned company is situated: Provided that where a person who is a Judge of a High Court is appointed to be the Commissioner, such appeal, shall lie to the High Court exercising jurisdiction over the place in which the registered office of the concerned company is situated and such appeal shall be heard and disposed of by not less than two Judges of that High Court.
View Complete Act List Judgments citing this sectionAfter admitting a claim under this Act, the amount due in respect of such claim shall be paid by the Commissioner to the person or persons to whom such amount is due, and on such payment, the liability of each of the two companies in respect of such claim shall stand discharged.
View Complete Act List Judgments citing this sectionThe provisions of this Act shall have effect notwithstanding anything inconsistent therewith contained in any other law for the time being in force or in any instrument having effect by virtue of any law, other than this Act, or in any decree or order of any court, tribunal or other authority.
View Complete Act List Judgments citing this section.....and punished accordingly: Provided that nothing contained in this sub-section shall render any such person liable to any punishment, if he proves that the offence was committed without his knowledge or that he had exercised all due diligence to prevent the commission of such offence. (2) Notwithstanding anything contained in sub-section (1), where any offence under this Act has been committed by a company and it is proved that the offence has been committed with the consent or connivance of, or is attributable to any neglect on the part of, any director, manager, secretary or other officer of the company, such director, manager, secretary or other Officer shall be deemed to be guilty of that offence and shall be liable to be proceeded against and punished accordingly. Explanation.-- For the purpose of this section,- (a) "company" means any body corporate and includes a firm or other association of individuals; and (b) "director", in relation to a firm, means a partner in the firm.
View Complete Act List Judgments citing this section(1) The Inchek Tyres Limited and National Rubber Manufacturers Limited (Nationalisation) Ordinance, 1984, is hereby repealed. (2) Notwithstanding such repeal anything done or any action taken under the said Ordinance shall be deemed to have been done or taken under the corresponding provisions of this Act.
View Complete Act List Judgments citing this sectionTHE FIRST SCHEDULE [See sections 4(4), 8 and 16(1)] Sl.No Name of the Company Amount (Rupees in lakhs) 1. Inchek Tyres Limited 330.40 2. National Rubber Manufacturers Limited 159.64
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