Bare Act Search Results

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.....

Hooghly Docking and Engineering Company Limited (Acquisition and Transfer of Undertakings) Act, 1984 Complete Act

State: Central

Year: 1984

.....ratified, in writing, by the Central Government or the existing, or new. Government company, in which such undertakings have been vested under this Act, and in ratifying such contract, the Central Government or the 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 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 interests of the Central Government or the 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 or other employee of that Government or the existing, or new. Government company or other person authorised by the Central Government or.....

Inchek Tyres Limited and National Rubber Manufacturers Limited (Nationalisation) Act, 1984 Complete Act

State: Central

Year: 1984

INCHEK TYRES LIMITED AND NATIONAL RUBBER MANUFACTURERS LIMITED (NATIONALISATION) ACT, 1984 INCHEK TYRES LIMITED AND NATIONAL RUBBER MANUFACTURERS LIMITED (NATIONALISATION) ACT, 1984 17 of 1984 31st March, 1984 STATEMENT OF OBJECTS AND REASONS Act No. 17 of 1984.- The Inchek Tyres Limited commenced production of automobile tyres and tubes in Kakinara (West Bengal) in 1963. The undertaking started showing unfavourable operational results after 1970 and by June, 1977 the company had an accumulated loss of Rs. 8.9 crores as against the paid up capital of Rs. 3 crores. The management of the undertaking was taken under the Industries (Development and Regulation) Act, 1951, on the 13th April, 1978. The undertaking employs about 1,380 persons. 2. The National Rubber Manufacturers Limited, Calcutta, have two units. The unit at Tangra (Calcutta) produces cycle tyres, tubes and rubber goods like fan and V belts, transmission and conveyor belts, hoses, etc., and the other unit at Kalyani produces reclaimed rubber. In early 1970s, the production at both the units was affected due to labour trouble, erratic power supply, shortage of certain raw materials and poor quality of the.....

Aluminium Corporation of India Limited (Acquistion and Transfer of Aluminium Undertaking) Act, 1984 Complete Act

State: Central

Year: 1984

.....AND TRANSFER OF ALUMINIUM UNDERTAKING) ACT, 1984 ALUMINIUM CORPORATION OF INDIA LIMITED (ACQUISTION AND TRANSFER OF ALUMINIUM UNDERTAKING) ACT, 1984 43 of 1984 [2nd June, 1984] An Act to provide for the acquisition and transfer of the right, title and interest of the Aluminium Corporation of India Limited in relation to its undertaking as Jaykay Nagar, near Asansol (West Bengal) for the purpose of ensuring the continuity of production of aluminium and aluminium fabricated products which are essential to the needs of the community and thereby to give effect to the policy of the State towards securing the principles specified in clause (b) of Article 39 of the Constitution, WHEREAS the undertaking of the Aluminium Corporation of India Limited, a company within the meaning of the Companies Act, 1956at Jaykay Nagar, near Asansol (West Bengal) was engaged in the production of aluminium and aluminium fabricated products falling under the First Schedule to the Industries (Development and Regulation) Act, 1951; AND WHEREAS a result of deterioration of operating efficiency, grave financial improprieties, failure to maintain harmonious industrial relations and other reasons,.....

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

Title: Acquisition and Transfer of the Undertakings of the Company

State: Central

Year: 1984

.....all assets, rights, leaseholds, powers, authorities and privileges, and all property, movable and immovable, including lands, buildings, offices, factories, workshops, stores, instruments, plants, machinery and equipment, installations, laboratories, office furniture, stationery and equipment, vehicles, patents, trade marks, cash balances, cash on hand, reserve funds, investments, book debts and all other rights and interests in, or arising out of, such property as were immediately before the appointed day in the ownership, possession, power or control of the Company, whether within or outside India, and all books of account, registers and all other documents of whatever nature relating thereto. (2) All properties and assets as aforesaid which have vested in the Central Government under section 3 shall, by force of such vesting, be freed and discharged from any trust, obligation, mortgage, charge, lien and all other incumbrances affecting them, and any attachment, injunction, decree or order of any Court, tribunal or other authority restricting the use of such properties or assets in any manner or appointing any receiver in respect of the whole or any part of such properties.....

Aluminium Corporation of India Limited (Acquisition and Transfer of Aluminium Undertaking) Act, 1984 Chapter II

Title: Acquisition of Transfer of Aluminium Undertaking of the Company

State: Central

Year: 1984

.....The Aluminium undertaking of the Company shall be deemed to include all properties and assets (including lands, quarries, mines, buildings, offices, factories, workshops, stores, plants, machinery and equipment, installations, instruments, laboratories, office furniture, stationery and equipment, vehicles, staff quarters, workers' colonies together with amenities and installations pertaining thereto, cash balances, cash on hand, reserve funds, investments, book debts, rights, leaseholds, powers, authorities and privileges) pertaining to the undertaking and all other rights and interests in, or arising out of, such properties and assets as were immediately before the appointed day in the ownership, possession, power or control of the Company and all books of account, registers and all other documents of whatever nature relating thereto. (2) All properties and assets as aforesaid which have vested in the Central Government under section 3 shall, by force of such vesting, be freed and discharged from any trust, obligation, mortgage, charge, lien and all other incumbrances affecting them, and any attachment, injunction, decree or order of any Court or other authority restricting.....

Bengal Immunity Company Limited (Acquisition and Transfer of Undertakings) Act, 1984 Section 4

Title: General Effect of Vesting

State: Central

Year: 1984

.....accordance with its tenor in relation to and for the purposes of such undertaking, and, on and from the date of vesting of such undertaking, under section 6, in an existing Government company, or under section 7, in a new Government company, the existing, or new, Government company, as the case may be, shall be deemed to be substituted in such licence or other instrument as if such licence or other instrument had been granted to such existing, or new, Government company and such existing, or new, Government company shall hold it for the remainder of the period for which the Company would have held it under the terms thereof. (6) If, on the appointed day, any suit, appeal or other proceeding, of whatever nature, in relation to any property or asset which has vested in the Central Government under section 3, instituted or preferred by or against the Company is pending, the same shall not abate, be discontinued or be, in any way, prejudicially affected by reason of the transfer of the undertakings of the Company or of anything contained in this Act, but the suit, appeal or other proceeding may be continued, prosecuted or enforced by or against the Central Government, or where.....

Aluminium Corporation of India Limited (Acquisition and Transfer of Aluminium Undertaking) Act, 1984 Section 4

Title: General Effect of Vesting

State: Central

Year: 1984

.....or other instrument for the remainder of the period for which the Company would have held it under the terms thereof. (6) If, on the appointed day, any suit, appeal or other proceeding of whatever nature in relation to any property or assets which has vested in the Central Government under section 3, instituted or preferred by or against the Company is pending, the same shall not abate, be discontinued or be, in any way, prejudicially affected by reason of the transfer of the Aluminium undertaking or of anything contained in this Act, but the suit, appeal or other proceeding may be continued, prosecuted or enforced by or against the Central Government or where the Aluminium undertaking is directed under section 6, to vest in the Bharat Aluminium Company by or against that company.

Hooghly Docking and Engineering Company Limited (Acquisition and Transfer of Undertakings) Act, 1984 Section 4

Title: General Effect of Vesting

State: Central

Year: 1984

.....claim, in accordance with his rights and interests, payment of the mortgage money or other dues in whole or in part, out of the amounts specified in sections 8 and also out of the amount determined under section 9, but no such mortgage, charge, lien or other interest shall be enforceable against any property which has vested in the Central Government. (5) Any licence or other instrument granted to the Company in relation to any undertaking which has vested in the Central Government under section 3 at any time before the appointed day and in force immediately before that day shall continue to be in force on and after such day in accordance with its tenor in relation to, and for the purposes of the said undertaking, and, on and from the date of vesting of such undertaking under section 5, in an existing Government company, or under section 6, in a new Government company, the existing, or new, Government company, as the case may be, shall be deemed to be substituted in such licence or other instrument as if such licence or other instrument had been granted to such existing, or new, Government Company shall hold it for the remainder of the period for which the Company would have.....

Hooghly Docking and Engineering Company Limited (Acquisition and Transfer of Undertakings) Act, 1984 Chapter II

Title: Acquisition and Transfer of Aluminium Undertaking of the Company

State: Central

Year: 1984

.....Government company (1) Notwithstanding anything contained in section 3 and 4, where the undertakings of the Company have been directed, under sub-section (1) of section 5, to vest in an existing Government company, the Central Government may, if it is satisfied that a new Government company is willing to comply, or has complied, with such terms and conditions as that Government may think fit to impose, declare, by notification, that the undertakings of the Company be transferred to that new Government company; and on the issue of such declaration, the right, title and interest of the Company in relation to its undertakings, which had been directed under sub-section (1) of section 5 to vest in an existing Government company, shall, instead of continuing to vest in that existing Government company, vest in that new Government company with effect from the date on which such declaration is made. (2) Where the right, title and interest of the existing Government company in relation to the undertakings of the Company vest under sub-section (1) in a new Government company, that new Government company shall, on and from the date of such vesting, be deemed to have become the owner in.....