Bare Act Search Results

Electricity (Supply) Act, 1948 [Repealed] Section 37

Title: Purchase of Generating Stations or Undertakings or Main Transmission Lines by the Board

State: Central

Year: 1948

.....pay and the mortgagee, chargee, lien-holder or oblige shall accept the whole or part of the purchase-money as the case may be in full or part satisfaction of the debt according as the amount of the purchase-money is more or less than the amount of his debt; (b) without prejudice to the provisions of section 47, the Board shall pay, or tender payment of, the price to be determined in accordance with the Fourth Schedule as soon as the amount thereof has been determined, together with interest on such amount from the date of purchase to the date of payment or tender of payment as aforesaid at the rate of one per centum over the average of the Reserve Bank rates between the said dates; (e) the receipt of the licensee shall notwithstanding anything in any other law, be a full and sufficient discharge to the Board for the payment due in respect of the purchase. (2) Where a generating station or undertaking or main transmission line purchased by the Board under this Act is in course of construction, extension or repair at the dale of purchase, the rights and liabilities of the former owner thereof under any contract for such construction, extension or repair shall be deemed to.....

The Electricity (Supply) Act, 1948 Complete Act

State: Central

Year: 1948

.....is declared void under this section, it shall not be enforceable by any party to the transaction but the provisions of Sec. 65 of the Indian Contract Act, 1872 (9 of 1872), shall, so far as may be, apply to such transaction as they apply to an agreement which is discovered to be void or a contract which becomes void. (4) The decision of the State Government declaring any transaction void under this section shall be final and shall not be called in question in any Court.] SECTION 11: TEMPORARY ABSENCE OF MEMBERS If the Chairman or any other member of the Board is by infirmity or otherwise rendered temporarily incapable of carrying out his duties or is absent on leave or otherwise in circumstances not involving the vacation of this appointment the State Government may appoint another person to officiate for him and carry out his functions under this Act or any rule or regulation made there under. SECTION 12: INCORPORATION OF BOARD The Board shall be a body corporate by the name notified under sub-section (1) of Sec. 5, having perpetual succession and a common seal with power to acquire and hold property both moveable and immoveable, and shall by the said name sue and be sued. .....

Dalmia Dadri Cement Limited (Acquisition and Transfer of Undertakings) Act, 1981 Complete Act

State: Central

Year: 1981

.....giving them any retrenchment benefits, the State Government of Haryana has been continuously urging the Government of India to take over this factory in view of the fact that a large number of employees will be thrown out of employment, if the factory is permanently closed down. The State Government of Haryana has indicated that owing to financial constraints and lack of technical expertise, the State Government is not in a position to take over this cement factory for restarting and running it. 3. The liability of the factory on its restart has been assesed and in the interest of restarting production of cement and also to provide employment to the workers, the Central Government had decided that it would be in the public interest to acquire the cement factory of this company and to transfer it to the Cement Corporation of India which is a public sector undertaking engaged in the manufacture and sale of cement. 4. The Bill seeks to give effect to the above object- Gaz. of Ind., 5-5-1981, Pt. II. S. 2 Ext., p. 361. An Act to provide for the acquisition and transfer of the undertakings of the Dalmia Dadri Cement Limited with a view to securing the proper management of such.....

Brentford Electric (India) Limited (Acquisition and Transfer of Undertakings) Act 1987 Complete Act

State: Central

Year: 1987

.....and the order, if any, for payment of the claim, being treated as an order for the refund of revenue, CHAPTER 07: MISCELLANEOUS SECTION 24: ACT TO HAVE OVERRIDING EFFECT - The 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. SECTION 25: CONTRACTS TO CEASE TO HAVE EFFECT UNLESS FATIFIED - Every contract entered into by the Company in relation lo its undertaking which has vested in the Central Government under section 3-, for any service, sale or supply and in force immediately before the appointed day, shall, on and from the expiry of a period of one hundred and eighty day from the date on which this Act receives the assent of the President, cease to have effect unless such contract is, before the expiry of that period, ratified, in writing, by the Central Government or Andrew Yule in which such undertakings have been vested under this Act, and in ratifying such contract, the Central Government or Andrew Yule may make such.....

Bird and Company Limited (Acquisition and Transfer of Undertakings and Other Properties) Act, 1980 Complete Act

State: Central

Year: 1980

.....to be provided by the Central Government 3. Messrs. Bird and Company Limited is a lading company in a group of 23 other companies engaged in manufacturing, mining, trading and investment activities. While two of the companies are subsidiaries of the Company, the other companies in the group are under varying degrees of control of the company through its direct shareholding or by shareholding by the investment companies in the group. The Company provides marketing and management services to some of the group companies. The manufacturing companies in the group are engaged in production of goods which are vital to the needs of' the country. There had been .several allegations against the management of some of these companies indicating misuse of the companies, mismanagement, misfeasance or malfeasance. The Company Law Board ordered investigations in 1977 under section 237 (b) of the Companies Act, 1956, in respect of some of these companies. Four of the companies have already been nationalised. Management of two of the companies has been taken over under the provisions of the Industries ( Development and Regulation) Act. 1951. It was in the public interest to acquire the.....

Braithwaite and Company (India) Limited (Acquisition and Transfer of Undertakings) Act, 1976 Complete Act

State: Central

Year: 1976

.....the management of its undertakings was taken over by the Central Government under section 18A of the Industries (Development and Regulation) Act, 1951, in March, 1971. Since early action was necessary to reduce the interest charges on loans and for restructuring of the capital of the Company, the undertakings of the Company were acquired by the Braithwaite and Company (India) Limited (Acquisition tend Transfer of Undertakings) Ordinance, 1976). The Bill seeks to replace the said Ordinance. - Gaz. of Ind. , 20-8-1976, Pt.ll,S.2,Ext..p.l215. An Act to provide for the acquisition and transfer of the undertakings of Messrs. Braithwaite and Company (India) Limited for the purpose of ensuring the continuity of production of goods which are vital to the needs of the country, and for matters connected therewith or incidental thereto WHEREAS Messrs Braithwaite and Company (India) Limited was engaged in the manufacture and production of railway wagons, structural Heel works for bridges and heavy workshop buildings, pressed steel tanks, cranes, road rollers, jute carding machines, roll formers, power sweepers, grey iron castings and steel forgings and also in the.....

Maruti Limited (Acquisition and Transfer of Undertakings) Act, 1980 Complete Act

State: Central

Year: 1980

.....expiry of that period, ratified, in writing, by the Central Government or Government company, in which such undertakings have been vested under this Act, and in ratifying such contract, the Central Government or such Government company may make such alteration or modification therein as it may think fit: Provided that the Central Government or such Government company shall not omit to ratify a contract and shall not make any alteration of modification in a contract- (a) unless it is satisfied that such contract is unduly onerous or has been entered into in bad faith or is detrimental to the interests of the Central Government or such Government company, and (b) except after giving to the parties to the contract a reasonable opportunity of being heard and except after recording in writing its reasons for refusal to ratify the contract or for making any alteration or modification therein. SECTION 27: PROTECTION OF ACTION TAKEN IN GOOD FAITH (1) No suit, prosecution or other legal proceeding shall lie against the Central Government or any officer of that Government or the Government company or the Custodian or any officer or other person authorised by the Central Government or the.....

Textile Undertakings (Nationalisation) Act, 1995 Complete Act

State: Central

Year: 1995

.....by the subsidiary textile corporation as and when any such liability is required to be discharged, (4) Save as otherwise expressly provided in this Act, references in this act to the National Textile Corporation shall, in respect of any textile undertaking or any part thereof which is transferred to a subsidiary textile corporation, be construed as references to the subsidiary textile corporation. SECTION 07: SHARES TO BE ISSUED BY THE NATIONAL TEXTILE CORPORATION FOR THE VALUE OF THE ASSETS TRANSFERRED TO IT BY THE CENTRAL GOVERNMENT (1) An amount equal to the value of the assets of a textile undertaking transferred to, and vested in, the National Textile Corporation under sub-section (2) of Section 3-, shall be deemed to be contribution made by the Central Government to the equity capital of the National Textile Corporation; and for the contribution so made, the National Textile Corporation shall issue (if necessary after amending its memorandum and articles of association) to the Central Government paid-up shares , in its equity capital, having a face value equal to the amount specified against the textile undertaking in the corresponding entry in column (4) of the First.....

Bengal Immunity Company Limited (Acquisition and Transfer of Undertakings) Act, 1984 Complete Act

State: Central

Year: 1984

.....LIMITED (ACQUISITION AND TRANSFER OF UNDERTAKINGS) ACT, 1984 BENGAL IMMUNITY COMPANY LIMITED (ACQUISITION AND TRANSFER OF UNDERTAKINGS) ACT, 1984 57 of 1984 29th August, 1984 An Act to provide for the acquisition and transfer, in the public interest, of the undertakings of Messrs. Bengal Immunity Company Limited, and for matters connected therewith or incidental thereto. WHEREAS Messrs. Bengal Immunity Company Limited were engaged in the production and distribution of articles specified in the First Schedule to the Industries (Development and Regulation) Act, 1951 namely, chemicals (other than fertilizers), drugs and pharmaceuticals which are essential to the needs of the general public; AND WHEREAS the Central Government, being of opinion, after an investigation into the affairs of the Company, that the affairs of the Company have been managed in a manner highly detrimental to the public interest, had authorised, under section 18A of the Industries (Development and Regulation) Act, 1951, a body of persons to take over the management of the Company. AND WHEREAS for the purpose of reconstructing and rehabilitating the undertakings owned by the Company so as to.....

Amritsar Oil Works (Acquisition and Transfer of Undertakings) Act, 1982 Complete Act

State: Central

Year: 1982

.....the Central Government or the Government company shall not omit to ratify a contract and shall not make any alteration or modification in a contract- (a) unless it is satisfied that such contract is unduly onerous or has been entered into in bad faith or is detrimental to the interest of the Central Government or the Government company; and (b) except after giving the parties to the contract a reasonable opportunity of being heard and except after recording in writing its reasons for refusal to ratify the contract or for making any alteration or modification therein. SECTION 23: PENALTIES - Any person who,- (a) having in his possession, custody or control any property forming part of the Amritsar Oil Works, wrongfully withholds such property from the Central Government or the Government company; or (b) wrongfully obtains possession of, or retains, any property forming part of, the Amritsar Oil Works; or (c) wilfully withholds or fails to furnish to the Central Government or the Government company or any person or body of persons specified by that Government or the Government company, as the case may be, any document relating to the Amritsar Oil Works which may be in.....