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Home Bare Acts Phrase: attachment lien Sorted by: old Year: 1984 Page 1 of about 176 results (0.016 seconds)Sign-up to get more results
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Start Free TrialInchek Tyres Limited and National Rubber Manufacturers Limited Nationalisation Act, 1984 Chapter II
Title: Acquuiaiton and Transfer of the Chapter Ii Undertakings of the Two Companies
State: Central
Year: 1984
.....proceeding may be continued, prosecuted or enforced by or against the Central Government, or where the undertakings of the two companies vest under section 6 or section 7 in an existing, or a new, Government company, by or against such Government company. Section 5 - Companies to be liable for certain prior liabilities (1) Every liability, other than the liability specified in sub-section (2), of each of the two companies in respect of any period prior to the appointed day, shall be the liability of the concerned company and shall be enforceable against it and not against the Central Government, or where the undertakings of the two companies vest in an existing, or a new, Government company, against such Government company. (2) Any liability arising in respect of materials supplied to either of the two companies after the management of its undertakings had been taken over by the Central Government, shall, on and from the appointed day, be the liability of the Central Government or of the existing, or new, Government company aforesaid, and shall be discharged by that Government or, as the case may be, the existing, or new, Government company, as and when repayment for such.....
View Complete Act List Judgments citing this sectionIndustrial Reconstruction Bank of India Act, 1984 Section 41
Title: Power of Reconstruction Bank Relating to Property Offered as Primary or Collateral Security
State: Central
Year: 1984
.....of the dues of the Reconstruction Bank and the residue of the money so received shall be paid to the person entitled thereto in accordance with his rights and interests. (4) The Reconstruction Bank may, instead of exercising the powers conferred on it by sub-section (1), apply for the sale or lease of the property referred to in sub section (1) or for any other relief, to the High Court within the local limits of whose jurisdiction the property aforesaid is situated, and, thereupon, the provisions of section 40 shall, without prejudice to the provisions of section 69 of the Transfer of Property Act, 1882, apply thereto as if the property aforesaid were the property referred to in section 40, and powers shall be exercisable by the High Court accordingly.
View Complete Act List Judgments citing this sectionIndustrial Reconstruction Bank of India Act, 1984 Section 21
Title: Borrowing and Acceptance of Deposits by the Reconstruction Bank
State: Central
Year: 1984
.....shall not be less than twelve months from the date of making of the deposit on such terms as may be generally or specially approved by the Reserve Bank. (2) The Central Government may, on a request being made to it by the Reconstruction. Bank, guarantee the bonds and debentures, issued by that Bank as to the repayment of principal and the payment of interest at such rate as may be fixed by that Government, (3) Notwithstanding anything contained in any other law for the time being in force, the bonds and debentures issued, or sold by the Reconstruction Bank shall be approved securities for the purposes of the Indian Trusts Act, 1882, the Insurance Act, 1938 and the Banking Regulation Act, 1949.
View Complete Act List Judgments citing this sectionIndustrial Reconstruction Bank of India Act, 1984 Section 23
Title: Loans in Foreign Currency
State: Central
Year: 1984
.....in India at the time of repayment of such loan or advance. (4) Any loss or profit in connection with any borrowing of foreign currency under sub-section (1), for the purpose of granting loans and advances under this Act, or with its repayment to the concerned foreign lending agency, on account of any fluctuations in the rate of exchange accruing -- (a) during the period within which the loan or advance is repayable by the industrial concern or the period of actual repayment thereof by the concern, whichever is longer, shall be reimbursed by, or paid to, as the case may be, the recipients of such loans and advances; (b) after the expiry of the period specified in clause (a),-- (i) shall be borne by the Reconstruction Bank in respect of normal market fluctuations in foreign exchange; (ii) shall be reimbursed by, or paid to, as the case may be, the Central Government in respect of fluctuations other than the normal market fluctuations in foreign exchange. Explanation.-- If any question arises as to whether any fluctuation as aforesaid is a normal fluctuation or not, the same shall be decided by the Central Government whose decision thereon shall be final.
View Complete Act List Judgments citing this sectionIndustrial Reconstruction Bank of India Act, 1984 Chapter VIII
Title: Special Powers of the Reconstruction Bank
State: Central
Year: 1984
.....of management of an industrial concern shall be entitled to any compensation for the loss of office or for the premature termination, under this Act, of any contract of management entered into by him with such concern. (2) Nothing contained in sub-section (1) shall affect the right of any such managing or whole-time director, or any other director or manager or any such person in charge of management to recover from the industrial concern, moneys recoverable otherwise than by way of such compensation. Section 46 - Application of Act 1 of 1956 (1) Where the management of an industrial concern, being a company as defined in the Companies Act, 1956, is taken over by the Reconstruction Bank, then notwithstanding anything contained in the said Act or in the memorandum or articles of association of such concern,-- (a) it shall not be lawful for the shareholders of such concern or any other person to nominate or appoint any person to be a director of the concern; (b) no resolution passed at any meeting of the shareholders of such concern shall be given effect to unless approved by the Reconstruction Bank; (c) no proceeding for the winding up of such concern or for the.....
View Complete Act List Judgments citing this sectionIndustrial Reconstruction Bank of India Act, 1984 Section 36
Title: Power to Impose Conditions for Assistance
State: Central
Year: 1984
.....appointment of directors made in pursuance thereof shall be valid and effective notwithstanding anything to the contrary contained in the Companies Act, 1956, or in any other law for the time being in force or in the memorandum, articles of association or any other instrument relating to the industrial concern, and any provision regarding share qualification, age limit, number of directorships, removal from office of directors and such like conditions contained in any such law or instrument aforesaid, shall not apply to any director appointed by the Reconstruction Bank in pursuance of the arrangement as aforesaid. (3) Any director appointed in pursuance of sub-section (2) shall -- (a) hold office during the pleasure of the Reconstruction Bank and may be removed or substituted by any person by order in writing by the Reconstruction Bank; (b) not incur any obligation or liability by reason only of his being a director or for anything done or omitted to be done in good faith in the discharge of his duties as a director or anything in relation thereto; (c) not be liable to retirement by rotation and shall not be taken into account for computing the number of directors liable.....
View Complete Act List Judgments citing this sectionIndustrial Reconstruction Bank of India Act, 1984 Section 37
Title: Assistance to Industrial Concern when to Operate as a Charge on the Property Offered as Security
State: Central
Year: 1984
.....aforesaid, the dues relating to such assistance shall, without prejudice to the rights of any other creditor holding any prior charge or mortgage in respect of the property so specified, be, by virtue of the provisions of this section, a charge on the property specified in the declaration aforesaid. (2) Where any further immovable property is offered as security for the assistance referred to in sub-section (1), a fresh declaration shall be executed, as far as may be, in the form specified in the First Schedule. (3) Every declaration referred to in sub-section (1) or sub-section (2) shall be deemed to be a document registrable as an agreement under the provisions of the Registration Act, 1908, and no such declaration shall have effect unless it is so registered.
View Complete Act List Judgments citing this sectionIndustrial Reconstruction Bank of India Act, 1984 Section 38
Title: Power to Call for Repayment Before Agreed Period
State: Central
Year: 1984
.....that proceedings for liquidation has been, or may be, commenced in respect thereof; or (d) if the property assigned, charged, hypothecated, mortgaged or pledged to the Reconstruction Bank as a security for assistance is not insured and kept insured by the industrial concern to the satisfaction of the Reconstruction Bank or if such property depreciates in value to such an extent that, in the opinion of the Board, further security to the satisfaction of the Board should be given and such security is not given; or (e) if, without the permission of the Board, any machinery, plant or other equipment, whether, forming part of the security or otherwise, is removed from the premises of the undertaking or the industrial concern, as the case may be, without being replaced; or (f) if for any other reason, it is necessary so to do to protect the interests of the Reconstruction Bank.
View Complete Act List Judgments citing this sectionIndustrial Reconstruction Bank of India Act, 1984 Section 39
Title: Rights of Reconstruction Bank in Case of Default
State: Central
Year: 1984
.....as if the transfer had been made by the owner of such property. (3) The Reconstruction Bank shall have the same rights and powers with respect to goods manufactured or produced wholly or partly from goods forming part of the security held by it, as it had with respect to the original goods. (4) Where any action has been taken against an industrial concern under the provisions of sub-section (1), all costs, charges and expenses which, in the opinion of the Reconstruction Bank, have been properly incurred by it as incidental thereto, shall be recoverable from the industrial concern and the money which is received by the Reconstruction Bank shall, in the absence of any contract to the contrary, be held by it in trust, to be applied, firstly, in payment of such costs, charges and expenses, and, secondly, in discharge of the dues of the Reconstruction Bank and the residue of the money so received shall be paid to the person entitled thereto in accordance with his rights and interests. (5) Where the Reconstruction Bank takes over the management or possession of any industrial concern under sub-section (1), such industrial concern may sue, and be sued, in its name.
View Complete Act List Judgments citing this sectionIndustrial Reconstruction Bank of India Act, 1984 Section 40
Title: Enforcement of Claims by the Reconstruction Bank
State: Central
Year: 1984
.....assistance granted to it and the industrial concern fails to make such repayment, then, without prejudice to the provisions of Section 39 of this Act and of Section 69 of the Transfer of Property Act, 1882, any officer of the Reconstruction Bank generally or specifically authorised by the Board in this behalf, may apply to the concerned High Court for one or more of the following reliefs, namely :-- (i) for an order for the sale or lease of the property assigned, charged, hypothecated, mortgaged or pledged to the Reconstruction Bank as security for the assistance granted to it, or for the sale or lease of any other property, of the industrial concern, or (ii) for transferring the management of the industrial concern to the Reconstruction Bank or to its nominee; or (iii) for an ad interim injunction restraining the industrial concern from transferring or removing its machinery, plant or equipment from the premises of the industrial concern without the previous permission of the Board, where such transfer or removal is apprehended; or (iv) for an order for the appointment of a receiver where there is apprehension of the machinery, equipment or any other property of.....
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