Title : Offences by Companies
State : Central
Year : 1976
(1) Where an offence under this Act has been committed by a company, every person who at the time the offence was committed was in charge of, and was responsible to, the company for the conduct of the business of the company, as well as the company, shall be deemed to be guilty of the offence and shall be liable to be proceeded against and punished accordingly: Provided that nothing contained in this sub-section shall render any such person liable to any punishment, if he proves that the offence was committed without his knowledge or that he had exercised all due diligence to prevent the commission of such offence. (2) Notwithstanding anything contained in sub-section (1), where any offence under this Act has been committed by a company and it is proved that the offence has been..... View Complete Act List Judgments citing this sectionTitle : Power to Make Rules
State : Central
Year : 1976
(1) The Central Government may, by notification, make rules for carrying out the provisions of this Act. (2) In particular, and without prejudice to the generality of the foregoing power, such rules may provide for all or any of the following matters, namely:- (a) the time within which, and the manner in which, an intimation shall be given to the Commissioner under sub-section (3) of section 4; (b) the form and the manner in which, and the conditions under which, the Custodian shall maintain accounts as required by section 11; (c) the manner in which the monies in any provident or other fund referred to in section 13 shall be dealt with; (d) any other matter which is required to be, or may be, prescribed. (3) Every rule made by the Central Government under this Act shall be..... View Complete Act List Judgments citing this sectionState : Central
Year : 1977
GRESHAM AND CRAVEN OF INDIA (PRIVATE) LIMITED (ACQUISITION AND TRANSFER OF UNDERTAKINGS) ACT, 1977 GRESHAM AND CRAVEN OF INDIA (PRIVATE) LIMITED (ACQUISITION AND TRANSFER OF UNDERTAKINGS) ACT, 1977 42 of 1977 20th December, 1977 STATEMENT OF OBJECTS AND REASONS Messrs. Gresham and Craven of India (Private) Limited was a private company wholly owned by the Westing house Brake and Signal Company Limited of U.K. and its nominee. For various reasons including mismanagement, the company started incurring losses from 1966 and ultimately it had to be closed down on the 6th January 1971. It remained closed for three months and then the Government of India, after investigation, took over the management of the company on the 31st March, 1971, under the provisions of Section 18A of the..... List Judgments citing this sectionState : West Bengal
Year : 1986
ENGEL INDIA MACHINES AND TOOLS LIMITED (ACQUISITION AND TRANSFER OF UNDERTAKINGS) ACT, 1986 ENGEL INDIA MACHINES AND TOOLS LIMITED (ACQUISITION AND TRANSFER OF UNDERTAKINGS) ACT, 1986 32 of 1986 7th August, 1987 An Act to provide for the acquisition and transfer, in the public interest, of the undertakings of the Engel India Machines and Tools Limited, and for matters connected therewith or incidental thereto. WHEREAS the Engel India Machines and Tools Limited had been engaged in the manufacture of plastic moulding machines, extruders and other machines; AND WHEREAS the management of the undertakings of the Engel India Machines and Tools Limited had been conducted in a manner highly detrimental to the public interest; AND WHEREAS the management of the undertakings of the..... List Judgments citing this sectionTitle : The Braithwaite and Company (India) Limited (Acquisition and Transfer of Undertakings) Act, 1976
State : Central
Year : 1976
THE BRAITHWAITE AND COMPANY (INDIA) LIMITED (ACQUISITION AND TRANSFER OF UNDERTAKINGS) ACT, 1976 [Act, No. 96 of 1976] [5th September, 1976] PREAMBLE 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 steel 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 machining..... View Complete Act List Judgments citing this sectionState : Central
Year : 1980
NATIONAL COMPANY LIMITED (ACQUISITION AND TRANSFER OF UNDERTAKINGS) ACT, 1980 NATIONAL COMPANY LIMITED (ACQUISITION AND TRANSFER OF UNDERTAKINGS) ACT, 1980 42 of 1980 19th July, 1980 STATEMENT OF OBJECTS AND REASONS Messrs. National Company Limited, Calcutta, was promoted in 1917 by Andrew Yule and Company Limited. It functioned under the managing agency of the latter till 1959 when the Express Newspapers Groups acquired a controlling interest in the company. The Company, was not being managed in a manner befitting its size. Investigations also revealed gross mismanagement and grave financial irregularities in the working of the Company. The Company had also been incurring cash losses since 1971. The management of the Company was, therefore, taken over by the Central..... List Judgments citing this sectionState : Central
Year : 1980
BENGAL CHEMICAL AND PHARMACEUTICAL WORKS LIMITED (ACQUISITION AND TRANSFER OF UNDERTAKINGS) ACT, 1980 BENGAL CHEMICAL AND PHARMACEUTICAL WORKS LIMITED (ACQUISITION AND TRANSFER OF UNDERTAKINGS) ACT, 1980 58 of 1980 12th December,1980 STATEMENT OF OBJECTS AND REASONS The Bengal Chemical and Pharmaceutical Works Limited (BCPW), Calcutta, were engaged in the manufacturer of drugs and pharmaceuticals, chemicals and home products which were essential to the needs of the country. The Company began to show steady decline and the commercial activity of the Company stagnated from 1969-70 to 1971-72. Though it showed an upward trend till 1974-75, it started declining thereafter. The Company was also being mismanaged. After investigation into the affairs of the Company through an..... List Judgments citing this sectionState : Central
Year : 1981
DALMIA DADRI CEMENT LIMITED (ACQUISITION AND TRANSFER OF UNDERTAKINGS) ACT, 1981 DALMIA DADRI CEMENT LIMITED (ACQUISITION AND TRANSFER OF UNDERTAKINGS) ACT, 1981 31 of 1981 15th September, 1981 The unsatisfactory state of functioning of Messrs. Dalmia Dadri Cement Limited, one of the cement factories in the country, located at Charkhi Dadri (Haryana) with a licensed capacity of 2.39 lakhs tonnes of cement per annum has been engaging the attention of the Central Government. Due to financial difficulties resulting from mismanagement the company has closed down production in 1975. As a result of the efforts made towards the rehabilitation of the company by the State Government, Central Government and financial institutions the company restarted its production in December 1975,..... List Judgments citing this sectionState : Central
Year : 1984
GANESH FLOUR MILLS COMPANY LIMITED (ACQUISITION AND TRANSFER OF UNDERTAKINGS) ACT, 1984 GANESH FLOUR MILLS COMPANY LIMITED (ACQUISITION AND TRANSFER OF UNDERTAKINGS) ACT, 1984 16 of 1984 30th March, 1984 The Ganesh Flour Mills Company Limited is a public limited company incorporated in 1891. The Company was not being managed in a manner befitting its size and position. This led to gross mismanagement and grave financial irregularities in its working. As a result, the Ganesh Flour Mills Company limited remained closed. The management of the Ganesh Flour. Mills Company Limited was, therefore, taken over on the 3rd November, 1972, under section 18AA of the Industries (Development and Regulation) Act, 1951. 2, Certain units of the aforesaid company, namely:- (i) The Delhi..... List Judgments citing this sectionState : Central
Year : 1984
HOOGHLY DOCKING AND ENGINEERING COMPANY LIMITED (ACQUISITION AND TRANSFER OF UNDERTAKINGS) ACT, -1984 HOOGHLY DOCKING AND ENGINEERING COMPANY LIMITED (ACQUISITION AND TRANSFER OF UNDERTAKINGS) ACT, -1984 STATEMENT OF OJECTS AND REASONS The Hooghly Docking and Engineering Company Limited consists of two production units, namely, Salkia Works at Salkia, Howrah and Port Engineering Works at Howrah. The Company is engaged in shipbuilding and ship repairing and in the production of grey iron, non-ferrous and alloy castings. More than 2,500 persons are employed in the aforesaid two units. 2. The units had become sick ever since mid sixties and assistance from the Industrial Reconstruction Corporation of India (IRC) was made available to it from 1973 onwards. It was being managed by..... List Judgments citing this section