Bare Act Search Results

Industrial Reconstruction Bank of India Act, 1984 Section 49

Title: Power of Central Government to Grant Relief in the Case of Certain Assisted Industrial Concerns

State: Central

Year: 1984

.....of the business of the assisted industrial concern; (g) the payment in cash or otherwise to the members and other creditors in full satisfaction of their claims -- (i) in respect of their interests or rights, in, or against, the assisted industrial concernbefore the reconstruction or amalgamation; or (ii) where their interests or rights aforesaid, in, or against, the assisted industrial concern has or have been reduced under clause (f), in respect of such interests or rights as so reduced; (h) the vesting of controlling interest, in the reconstructed industrial concern, in the Central Government or its nominee either by the appointment of additional director or by the allotment of additional shares; (i) the allotment to the members of the assisted industrial concern, for any share or shares held by them therein before its reconstruction or amalgamation (whether their interest on such shares has been reduced under clause (f) or not), of shares in the assisted industrial concern on its reconstruction, or, as the case may be, in the transferee industrial concern and where any member claims payment in cash and not allotment of shares, or where it is not possible.....

Industrial Reconstruction Bank of India Act, 1984 Section 42

Title: Power of Reconstruction Bank to Appoint Directors or Administrators of an Industrial Concern when Management Thereof is Taken over

State: Central

Year: 1984

.....the Official Gazette, appoint as many persons as it thinks fit,-- (a) in any case in which the industrial concern is a company, as defined in the Companies Act, 1956, to be the directors of that industrial concern; or (b) in any other case, to be the administrator of that industrial concern. (2) The power to appoint directors or administrators under this section includes the power to appoint any individual, firm or body corporate to be the manager of the industrial concern on such terms and conditions as the Reconstruction Bank may think fit. (3) For the removal of doubts, it is hereby declared that the power to appoint directors, administrators or managers includes the power to remove or replace the person so appointed. (4) Nothing in the Companies Act, 1956 or in any other law for the time being in force or in any instrument relating to the industrial concern shall, in so far as it makes, in relation to a director, any provision for the holding of any share qualification, age limit, restriction on the number of directorships, retirement by rotation or removal from office, apply to any director appointed by the Reconstruction Bank under this section.

Industrial Reconstruction Bank of India Act, 1984 Section 50

Title: Power of High Court to Authorise Reconstruction Bank to Prepare Scheme for Reconstruction, Etc., of Industrial Concern

State: Central

Year: 1984

.....revival or rehabilitation of the industrial concern referred to in sub-section (1), and the scheme so made may contain all or any of the matters specified in sub-section (7) of section 49; Provided that no such scheme shall provide for the amalgamation or merger of the company in liquidation or of any undertaking owned by it with any other company, or any other undertaking owned by such other company, except on the authority of a special resolution passed by the members of that other company. (3) The High Court may, if it is satisfied, after considering the scheme prepared under sub-section (2), that the scheme ensures the reconstruction, revival or rehabilitation of the industrial concern which is a company being wound up by the court; and such reconstruction, revival or rehabilitation would ensure an increase in the production of goods needed by the community, approve the scheme with or without any modification and the scheme so approved shall have effect, notwithstanding anything to the contrary contained in any other provisions of this Act or any other law, or any agreement, award or other instrument for the time being in force.

Industrial 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.

Industrial Reconstruction Bank of India Act, 1984 Section 47

Title: Restriction on Filing of Suits for Dissolution, Etc., of an Industrial Concern Not Being a Company when Its Management is Taken over

State: Central

Year: 1984

Where the management of an industrial concern not being a company as defined in the Companies Act, 1956, is taken over by the Reconstruction Bank, no suit or proceedings for dissolution or for partition shall, in so far as it relates to that industrial concern, lie in any court or before any tribunal or other authority except with the consent of the Reconstruction Bank.

Government of Punjab Department of Finance(the Punjab Civil Services Rules) Complete Act

State: Punjab

Year: 1984

.....in the case of services and posts in connection with the affairs of the Union and of the State respectively, it was not considered necessary to enact the Act, referred to above. 2. In exercise of the powers conferred by the proviso to Article 309 of the Constitution of India, the Governor of the Punjab issued the rules as contained in the First Edition and reprint thereof. Since the issue of the First Edition (reprint)m there have been several changes in the Leave Rules any Pay Fixation Rules, and enhanced powers have been delegated to the various authorities during 1962. The present edition incorporates correction slips Nos.1 to 222, amendments Nos. 1 to 30 of 1962 and 1 to 26 of 1963 to the First Edition (reprint), and thus brings the compilation up-to-date. 3. From Ist November 1956, the erstwhile State of Pepsu and Punjab have been integrated into the new State called Punjab. Under proviso to Section 115 (7) of the States Re-organisation Act, 1956, no rule can be amended or made, which would adversely affect the conditions of service of the employees of the erstwhile States of Punjab and Pepsu, except with the specific approval of the Government of India. Accordingly,.....

The Indian Stamp (Assam Amendment) Act, 1984 Complete Act

State: Assam

Year: 1984

.....of Rs. 1,000. Three rupees. Exemptions (1) Instruments executed by persons taking advances under the Land Improvement Loans Act, 1883(Act XIX of 1883.), or the Agriculturist's Loans Act, 1884 (Act XII of 1884), or by their sureties as security for the repayment of such advances. (2) Letter of hypothecation accompanying a bill of exchange. 41. Motgage of a crop -- including any instrument evidencing an agreement to secure the repayment of a loan made upon any mortgage of a crop, whether the crop is or is not in existence at the time of the mortgage. (a) when the loan is repayable not more than three months from the date of the instrument, for every sum secured not exceeding Rs. 200 and Forty five paise. for every Rs. 200 or part thereof secured in excess of Rs. 200, Sixty paise. (b) when the loan is payable more than three months, but not more than eighteen months from the date of instrument -- for every sum secured not exceeding Rs. 100; and Seventy paise. for every Rs. 100 or part thereof secured in excees of Rs. 100. Seventy paise. 42. Notarial Act-- that is to say, any.....

Industrial 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.....

Industrial Reconstruction Bank of India Act, 1984 Complete Act

State: Central

Year: 1984

.....and obligations of whatever kind then subsisting of the Corporation in relation to its undertaking. (4) Unless otherwise expressly provided by this Act, all contracts, deeds, bonds, agreements, powers of attorney, grants of legal representation and other instruments of whatever nature subsisting or having effect immediately before the appointed day and to which to Corporation is a party or which are in favour of the Corporation, shall be of as full force and effect against or in favour of the Reconstruction Bank, and may be enforced or acted upon as fully and effectually as if, in the place of the Corporation, the Reconstruction Bank had been a party thereto or as if they had been issued in favour of the Reconstruction Bank. (5) If, on the appointed day, any suit, appeal or other proceeding of whatever nature in relation to the business of the undertaking which has been transferred under this section, is pending by, or against, the Corporation, the same shall not abate, be discontinued or be, in any way, prejudicially affected by reason of the transfer of the undertaking of the Corporation or of anything contained in this Act, and the suit, appeal or other proceeding may be.....

Industrial Reconstruction Bank of India Act, 1984 Chapter V

Title: Objects Of, and Business to Be Transacted by the Reconstruction Bank

State: Central

Year: 1984

.....of bills of exchange-and promissory notes, made, drawn, accepted or endorsed by any industrial concern or by any person selling capital goods manufactured by one industrial concern to another industrial concern; (j) promoting, owning, taking over, managing industrial concerns and acting as authorised person, where so appointed by the Central Government, to manage an industrial concern, including ancillaries; (k) transferring or acquiring for consideration any instrument relating to loans and advances; (l) providing technical, legal, administrative and marketing assistance, promoting, assisting and financing mergers, amalgamation or reconstruction of an industrial or business concern; (m) providing management assistance to industrial concerns including nationalised undertakings by deputing officers from its own cadre or a separate management pool constituted for the purpose; (n) undertaking research and surveys for evaluating or dealing with marketing or investments, carrying on techno-economic studies in connection with reconstruction and development of industry and establishment of institutes for such purposes including training of personnel; (o) granting,.....