Title : Preliminary
State : Central
Year : 1987
(1) This Act may be called the Brentford Electric (India) Limited (Acquisition and Transfer of Undertakings) Act, 1987. (2) The provisions of sections 26 and 27 shall come into force at once and the remaining provisions of this Act shall be deemed to have come into force on the 1st day of April, 1986. Section 2 - Definitions In this Act, unless the context otherwise requires,- (a) "Andrew Yule" means the Andrew Yule and Company Limited, Calcutta, a company formed and registered under the Companies Act, 1956 (1 of 1956); (b) "appointed day" means the 1st day of April, 1986; (c) "Commissioner" means the Commissioner of Payments appointed under section 14; (d) "Company" means the Brentford Electric (India) Limited, a company within the meaning of the Companies Act, 1956 and..... View Complete Act List Judgments citing this sectionState : Central
Year : 1987
BRENTFORD ELECTRIC (INDIA) LIMITED (ACQUISITION AND TRANSFER OF UNDERTAKINGS) ACT 1987 BRENTFORD ELECTRIC (INDIA) LIMITED (ACQUISITION AND TRANSFER OF UNDERTAKINGS) ACT 1987 36 of 1987 15th September, 1987 STATEMENT OF OBJECTS AND REASONS The Brentford Electric (India) Limited, Calcutta, (BEIL), established in 1964, has been in existence for about 23 years and has been engaged in the manufacture of regulators of up to 5000 KVA, rectifiers, special transformers, distribution transformers, etc. The products of the company are of high quality and are required for defence establishments, State Electricity Boards and atomic energy establishments. The company is at present employing about 200 persons. 2. BEIL started incurring losses from 1975 and ran into serious Financial..... List Judgments citing this sectionTitle : Brentford Electric (India) Limited (Acquisition and Transfer of Undertakings) Act, 1987
State : Central
Year : 1987
THE BRENTFORD ELECTRIC (INDIA) LIMITED (ACQUISITION AND TRANSFER OF UNDERTAKINGS) ACT, 1987 [Act, No.36of 1987] [15th September, 1987] PREAMBLE An Act to provide for the acquisition and transfer of the undertakings of the Brentford Electric (India) Limited, with a view to securing the proper management of such undertakings so as to subserve the interests of the general public by ensuring the continued manufacture and production of electrical equipments which are essential to the needs of the economy of the country and for matters connected therewith or incidental thereto. WHEREAS the Brentford Electric (India) Limited had been engaged in the manufacture and production of articles mentioned in the First Schedule to the Industries (Development and Regulation) Act, 1951, (65 of..... View Complete Act List Judgments citing this sectionTitle : Brentford Electric (India) Limited (Acquisition and Transfer of Undertakings) Act, 1987
State : Central
Year : 1987
Preamble1 - BRENTFORD ELECTRIC (INDIA) LIMITED (ACQUISITION AND TRANSFER OF UNDERTAKINGS) ACT, 1987 Chapter I Section1 - Short title and commencement Section2 - Definitions Chapter II Section3 - Transfer to, and vesting in, the Central Government of the undertakings of the Company Section4 - General effect of vesting Section5 - Company to be liable for certain prior liabilities Section6 - Power of Central Government to direct vesting of the undertakings of the Company in Andrew ule Chapter III Section7 - Payment of amount Section8 - Payment of further amounts Chapter IV Section9 - Management, etc., of the undertakings of the Company Section10 - Duty of persons incharge of management of the undertakings of the Company to deliver all assets, etc. Section11 - Duty of persons to..... List Judgments citing this sectionTitle : Short Title and Commencement
State : Central
Year : 1987
(1) This Act may be called the Brentford Electric (India) Limited (Acquisition and Transfer of Undertakings) Act, 1987. (2) The provisions of sections 26 and 27 shall come into force at once and the remaining provisions of this Act shall be deemed to have come into force on the 1st day of April, 1986. View Complete Act List Judgments citing this sectionTitle : Acquisition and Transfer of the Undertakings of the Company
State : Central
Year : 1987
On the appointed day, the undertakings of the Company, and the right, title and interest of the Company in relation to its undertakings, shall by virtue of this Act, stand transferred to, and vest in, the Central Government. Section 4 - General effect of vesting (1) The undertakings of the Company shall be deemed to include all assets, rights, lease-holds, powers, authorities and privileges, and all property, movable and immovable, including lands, buildings, workshops, stores, instruments, machinery and equipment, cash balances, cash on hand, cheques, demand drafts, reserve funds, investments, book debts, and all other right 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,..... View Complete Act List Judgments citing this sectionTitle : Payment of Amounts
State : Central
Year : 1987
For the transfer to, and vesting, in the Central Government, under section 3, of the undertakings of the Company, and the right, title and interest of the Company in relation to its undertakings, there shall be paid by the Central Government to the Company in cash, and in the manner specified in Chapter VI, an amount of rupees thirty-seven lakhs and fifty thousand. Section 8 - Payment of further amounts (1) For the deprivation of the Company of the management of his undertakings, there shall be paid by the Central Government to the Company in cash, an amount calculated at the rate of five thousand rupees per annum for the period commencing on the date on which the management of the undertakings of the Company was taken over in pursuance of the order made by the Central Government..... View Complete Act List Judgments citing this sectionTitle : Commissioner of Payments
State : Central
Year : 1987
(1) The Central Government shall, for the purpose of disbursing the amounts payable under sections 7 and 8 to the Company, by notification, appoint a Commissioner of Payments. (2) The Central Government may appoint such other persons as it may think fit to assist the Commissioner and thereupon the Commissioner may authorise one or more of such persons also to exercise all or any of the powers exercisable by him under this Act and different persons may be authorised to exercise different powers. (3) Any person authorised by the Commissioner to exercise any of the powers exercisable by the Commissioner may exercise those powers in the same manner and with the same effect as if they have been conferred on that person directly by this Act and not by way of authorisation. (4) The..... View Complete Act List Judgments citing this sectionTitle : Provisions Relating to the Employees of the Company
State : Central
Year : 1987
(1) Every person who has been, immediately before the appointed day, employed in any undertakings of the Company shall become,- (a) on and from the appointed day, an employee of the Central Government, and (b) where the undertakings of the company are directed under sub-section (1) of section 6 to vest in Andrew Yule, an employee of Andrew Yule on and from the date of such vesting; and shall hold office or service under the Central Government of Andrew Yule, as the case may be, with the rights and privileges as to pension, gratuity and other matters admissible to him immediately before the appointed day, as modified by the Memoranda of Settlement signed by the representatives of the management and the employees of the Company on the 28th day of January, 1986 and the 30th day of..... View Complete Act List Judgments citing this sectionTitle : Management, Etc., of the Undertakings of the Company
State : Central
Year : 1987
The general superintendence, direction, control and management of the affairs and business of the undertakings of the Company, the right, title and interest in relation to which have vested in the Central Government under section 3, shall, where a direction has been made buy the Central Government under sub-section (1) of section 6, vest in Andrew Yule, and thereupon Andrew Yule shall be entitled of exercise, to the exclusion of all other persons, all such powers and do all such things as the Company was authorised to exercise and do in relation to its undertakings. Section 10 - Duty of persons incharge of management of the undertakings of the Company to deliver all assets, etc. (1) On the vesting of the management of the undertaking of the Company in Andrew Yule, all persons in..... View Complete Act List Judgments citing this section