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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.....